Covestro

Performance Indicators

Having achieved sales volumes for the amount of 11.7 billion euros in 2014, BayerMaterialScience (Covestro) became one of the largest global manufacturers of polymers.

The enterprise receives a considerable part of profit from sales of products, taking the leading positions in the world market. Primary clients are automobile and construction companies, the companies of the electric/electronic sector and also producers of sports and entertaining goods, packing materials and the medical equipment. Activity of group includes four directions at this time: production of polyurethane, polycarbonates, coverings, glues and special materials and also industrial processes.

Assets

At the end of 2014 the BayerMaterialScience company contained 30 production sites worldwide and about 14200 employees.

Activities

As of the beginning of 2016 the company conducts activity in the field of production of hi-tech polymeric materials and development of the innovative solutions for products finding application in many spheres of modern life. The main segments are:

• automotive industry,
• production electricians/electronic engineers,
• construction and also
• industry of sport and leisure.

Product portfolio

For March, 2016 enter a product portfolio of the company:

• Coverings, binding substances, specialized medicines (for example, Desmodur, Bayhydur, Dispercoll)
• Polycarbonates (for example, Makrolon, Makrofol/Bayfol, Fantasia, Bayblend; functional films, for example, Makrofol/Bayfol)
• Polyurethane (for example Multitec, Baydur, Bayflex, Baypreg, Vulkollan)
• Thermoplastic polyurethane (for example, Desmopan/Texin; functional films, for example, Platilon)

History

2015: Bayer MaterialScience is renamed into Covestro

The Bayer concern announced that since September 1, 2015 the MaterialScience subconcern entering into its structure will be renamed into Covestro. No later than the middle of 2016 it is supposed to bring Covestro to the stock market. For the first time plans of the Bayer MaterialScience conversion to the independent company it was announced in September, 2014.

The name Covestro is a combination of the English words reflecting the corporate style of the new company. The letters C and O are taken from the word "collaboration" (cooperation), VEST - (to invest) a part of the word "invest" shows considerable investments into the advanced production capacities. And at last, STRO - from the word "strong" (strong) emphasizes strengths of the company: a command, leader positions in the market and the innovation culture.

"The name Covestro to conformably courageous, new direction of development also anticipates brilliant perspectives of the innovative polymeric company", – the chairman of the board of Bayer MaterialScience and future head of Covestro Patrick Thomas noted. "We locate the powerful expert potential of representatives of a key element who successfully proved as the competent organizers who are actively promoting increase in efficiency of the enterprise. We do not doubt that with a support on responsible and loyal employees we will manage to construct the successful future", – Thomas added.

The name became one of components of the corporate style of Covestro which distinguishes essentially new, colourful and dynamic brand.

"We stopped the choice on Covestro as this name reflects our unique capability quicker, more effectively and more flexibly to use our competitive advantages", – Thomas explained. – "A new name - a component of a brand and the corporate style which were developed taking into account opinion of clients, employees and the closest partners; everything together they reflect our innovation and personnel potential and also ability to think on a substantial scale. I am absolutely sure that the bright corporate symbolics and positive strategic reference points will install enthusiasm and, will serve as a good incentive at the beginning of a new way".

Thomas noted that selection of BMS in an independent corporate structure will expand possibilities of the company in implementation of its strategic tasks.

"For this purpose there are all premises – including, our leader positions in the market; favorable industry dynamics; the base of assets meeting the modern requirements supported with the advanced production technologies; the corporate portfolio which is characterized by existence of the profitable specialized directions; and also wonderful group of employees highly skilled and complete of enthusiasm", – he added.