One of the world's leading polymer materials suppliers has a new identity. From September 1, 2015 Bayer MaterialScience is operating under the ‘Covestro' name.

The Company is now legally and economically independent, but will remain a 100 per cent subsidiary of Bayer AG. Bayer wants to float Covestro on the stock market by mid-2016 at the latest in order to concentrate exclusively on the life sciences businesses.

"Independence will enable us to bring our strengths to bear in global competition more quickly, effectively and flexibly," said Covestro CEO Patrick Thomas.

Covestro has a new, colorful logo. Its vision is also new: "To make the world a brighter place." "We fulfill this vision by inspiring innovation and driving growth through profitable technologies and products that benefit society and reduce environmental impacts," said Thomas.

Ajay Durrani, Managing Director of Covestro India Private Limited said, "We are extremely excited to venture into a bold new direction with Covestro. The name is part of Covestro's corporate identity, which includes a distinctive new and colourful, vibrant brand. We are committed to delivering value to our customers, and other stakeholders with the new brand identity. We look forward to building a successful future for Covestro in India with our loyal and dedicated employees."

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