1 June 2015
DETAILS
Bayer has announced that
the new name of its MaterialScience business will be
Covestro.
It will be effective on September 1, 2015.
Bayer intends to float Covestro on the stock market
by mid-2016 at the latest.
The plan for Bayer MaterialScience
to become a separate company was announced in September 2014.
The name Covestro is made from a combination of words
that reflect the identity of the new company.
The letters C and O come from collaboration,
while VEST signifies the company is well invested
in state-of-the-art manufacturing facilities.
The final letters, STRO, show the company is strong.
It is strong in innovation, strong in the market and
with a strong workforce.
Patrick Thomas,
Chief Executive Officer of Bayer MaterialScience
and CEO designate of Covestro
“ Covestro represents a bold new direction and bright future
for an innovation-driven polymers company,”
“ We are a company that is underpinned
by strong and experienced management
with a proven track record of excellence and full commitment
to value creation.
We have loyal and dedicated employees with whom
we are confident we can build our future success,”
The name is part of Covestro’s corporate identity,
which includes a distinctive new and colorful, vibrant brand.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
