Bayer MaterialScience LLC, Pittsburgh, Pa., will be separated from Leverkusen, Germany-based Bayer AG later this year with the intention of being floated on the stock market as a separate company by mid-2016.

The company has chosen Covestro as its new name, effective Sept. 1, 2015. Its vision is to make the world a brighter place by inspiring innovation and driving growth through profitable technologies and products that benefit society while reducing impact on the environment. Covestro will continue to produce polymers and solutions for markets such as transportation, construction, electronics, furniture, sports equipment and textiles.

Source: Bayer MaterialScience