Bayer MaterialScience Becomes Covestro
Effective Sept. 1, Bayer MaterialScience is operating under the Covestro name. The company is now legally and economically independent, but will remain a 100% subsidiary of Bayer AG. Bayer reportedly wants to float Covestro on the stock market by mid-2016 at the latest in order to concentrate exclusively on the life sciences businesses.
“Independence will enable us to bring our strengths to bear in global competition more quickly, effectively and flexibly,” said Patrick Thomas, CEO, Covestro.
For more information, visit www.covestro.com.