Bayer recently announced that the new name of its MaterialScience business will be Covestro, effective September 1. Bayer reportedly intends to float Covestro on the stock market by mid-2016 at the latest.
The name Covestro is reportedly made from a combination of words that reflect the identity of the new company. The letters C and O come from collaboration, while “vest” reportedly signifies the company is invested in state-of-the-art manufacturing facilities. The final letters, “stro,” intend to show the company is strong—in innovation, in the market and with a strong workforce.