|This article is outdated. (September 2015)|
|Patrick Thomas (CEO)|
|Revenue||10,435 million € (2007)|
Number of employees
Covestro (formerly Bayer MaterialScience) is an independent subgroup within Bayer. It was created as part of the restructuring of Bayer AG from the former business group Bayer Polymers, with certain of its activities being spun off to Lanxess AG. Covestro manufactures and develops materials such as coatings, adhesives and sealants, polycarbonates (CDs, DVDs), polyurethanes (automotive seating, insulation for refrigerating appliances) etc.
The main industries served are automotive manufacturing and supply, electrical engineering and electronics, construction and home products, and sports and leisure.
Covestro has approximately 30 production sites around the globe.
The company is divided into 3 principal Business Units (BU) that comprises the core segment of BMS. These are:
- BU Coatings, Adhesives, Specialties (BU CAS)
- BU Polycarbonates (BU PCS)
- BU Polyurethanes (BU PUR)
On September 18, 2014, the Board of Directors of Bayer AG announced plans to float the Bayer MaterialScience business on the stock market as a separate entity. On June 1st 2015 Bayer announced that the new company will be named Covestro.
Well known products
The official FIFA World Cup soccer ball and the UEFA European Nations Cup soccer ball were developed by Bayer MaterialScience in cooperation with Adidas. Some 20 percent of the world’s CDs are manufactured from the polycarbonate Makrolon.
- "Bayer to Spin Off Plastics Group to Focus on Health Care". New York Times. September 18, 2014. Retrieved 13 October 2014.
- Gannon, Joyce. "Bayer to rename its MaterialScience business Covestro". www.post-gazette.com. Retrieved 5 June 2015.