September 11, 2015

　　As of Sept. 1, Bayer MaterialScience is officially operating under the Covestro name. The company is now legally and economically independent, but will remain a 100 percent subsidiary of Bayer AG. Bayer’s intention is to float Covestro on the stock market by mid-2016 at the latest, to focus exclusively on the life sciences businesses.

　　Covestro is managed by a four-member board of management. Chaired by CEO Patrick Thomas, the board also includes Frank H. Lutz (finance, labor director), Dr. Klaus Schaefer (production and technology) and Dr. Markus Steilemann (innovation).

　　Supplying companies internationally in the automotive, construction, and electronics sectors, Covestro also manufactures products used in the furniture, sporting goods, and textiles industries. Products include raw materials for premium polyurethane foam, high-performance polycarbonates, and specialty chemicals, including raw materials for coatings, adhesives, and films.