Covestro is a
Bayer spin off formed in the fall of 2015 and formerly
Bayer MaterialScience, Bayer's $12.3 billion materials science
Covestro shares were first offered on the Frankfurt
Stock Exchange in October 2015.
Bayer sold off shares in 2017 and
by September had a 24.6% stake, meaning that
Bayer no longer had a
controlling interest; Bayer's pension fund had an 8.9% stake managed
The main industries served are automotive manufacturing and supply,
electrical engineering and electronics, construction and home
products, and sports and leisure. Their products include coatings and
adhesives, polyurethanes that are used in thermal insulation,
adhesives, electrical housings, and as a component of footwear and
mattresses, and polycarbonates such as Covestro's Makrolon, which are
highly impact-resistant plastics.
Covestro polyurethane was used in
the 2014 official FIFA World Cup soccer ball.
^ a b Christopher Alessi for the Wall Street Journal. Sept. 1, 2015
Bayer Separates Material Science Business Covestro
^ Joyce Gannon for the Pittsburgh Post-Gazette September 1, 2015 Bayer
MaterialScience assumes its new identity as Covestro
^ Sheenagh Matthews and Alex Webb for Bloomberg News. October 6, 2015
Covestro Jumps on First Day of Trading in Frankfurt After IPO
Bayer sells further stake in
Covestro for 1 billion euros".
^ Justine Coyne for the Pittsburgh Business Times. Jun 12, 2014 Bayer
gets ball rolling at World Cup
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