Bayer (Leverkusen, Germany) recently revealed that the new name of its MaterialScience business will be Covestro, effective on September 1, 2015. Just a year ago, Bayer made the announcement that it was splitting off Bayer MaterialScience. The company has now said that it intends to float Covestro on the stock market by mid-2016 at the latest.
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.