Bayer MaterialScience now Legally and Economically Independent under the New Name Covestro


One of the world’s leading polymer materials suppliers has a new identity. From September 1, 2015 Bayer MaterialScience is operating under the Covestro name. The company is now legally and economically independent. The Covestro AG debuted on the stock market on October 6.

As a global supplier of high-tech polymer materials and associated application solutions for many areas of modern life, Covestro supplies key industry sectors such as the automotive, construction and electronics industries. Driven by macro trends such as climate change, the diminishing availability of fossil resources, the expanding global population, urbanization and increasing mobility, the company is seeking to achieve profitable growth in the long term. Through its products – alongside polycarbonates especially raw materials for polyurethanes, coatings, adhesives and sealants as well as specialty products – Covestro aims to help master these challenges in line with its vision “To make the world a brighter place.” It operates efficient, safe and environmentally friendly production facilities and processes that are capable of serving the anticipated growth in demand. Covestro intends to further optimize cost structures and efficiency throughout the company.

Covestro's portfolio is divided into three business units:

and the Industrial Operations area.

Corporate Data

Company Name

Covestro AG


Leverkusen, Germany

Chairman of the Board of Management

Patrick Thomas


Coatings, Adhesives, Specialties

Corporate Figures


EUR 11,826 million

EBITDA1 Before Special Items

EUR 1,984 million

R&D Expenses

EUR 261 million



(As of December 31, 2016)


for definition see footnotes to Bayer Group Key Data table

Covestro's Mission

Covestro has a new, colorful logo. Its vision is also new: “To make the world a brighter place.” “We fulfill this vision by inspiring innovation and driving growth through profitable technologies and products that benefit society and reduce environmental impacts,” said Thomas.

Patrick Thomas, CEO of Covestro: “We’re proud of where we came from and excited about our new beginning.”

Versatile Products for Key Industries

Covestro supplies key industries around the world, such as the automotive, construction and electronics sectors, as well as the furniture, sporting goods and textiles industries. With its products and applications solutions, the company is helping to meet the major challenges of our time, from climate change and resource depletion, increasing mobility and urbanization to population growth and demographic change.

Products include raw materials for premium polyurethane foam, which in the form of flexible foam is used primarily in furniture, mattresses and automobile seats; as rigid foam, it serves to insulate buildings and refrigeration equipment. Covestro also produces high-performance plastic polycarbonates, which are also very versatile materials for automotive components, roof structures, medical devices and much more. Rounding out the portfolio are specialty chemicals, including raw materials for coatings, adhesives and films.

The Board of Management

Patrick Thomas

Patrick Thomas,
CEO of Covestro AG

Covestro is managed by a four-member board of management:

  • Patrick Thomas (CEO)
  • Frank H. Lutz (Finance, Labor Director)
  • Dr. Klaus Schaefer (Production and Technology)
  • Dr. Markus Steilemann (Innovation)

Photos and biographies are available on the Covestro website.

For Journalists

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Covestro in Social Media