From September 1, 2015 the Bayer MaterialScience devision is operating under the name Covestro. The company is legally and economically independent, but will remain a subsidiary of Bayer AG. Bayer wants to bring Covestro on the German stock market by mid-2016.
Covestro is among the world’s largest polymer companies with 2014 sales of EUR 11.7 billion. The company focusses on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction, and sports and leisure industries. The Covestro group has 30 production sites around the globe and employed approximately 14,200 people at the end of 2014.
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), and Dr. Markus Steilemann (Innovation).
- Covestro, formerly Bayer MaterialScience, Leverkusen, Germany