Leading polymer materials supplier Bayer MaterialScience, is now up and running under its new name, Covestro. The company is legally and economically independent, but will remain a subsidiary of Bayer AG.
Covestro supplies products to major industries including automotive, construction, electronics, furniture, sporting goods and textiles worldwide. According to the company, it is helping to solve key issues like climate change, resource depletion, increase in mobility and urbanization, population growth and demographic change as well.
“Independence enables us to bring our strengths to bear in global competition more quickly, effectively and flexibly,” said Covestro CEO Patrick Thomas. “We can now position ourselves purely as a polymers producer and thus more efficiently in our competitive environment.”
With a new name comes a new logo for the company, a colorful one to match Covestro’s new vision: “To make the world a brighter place.” According to Thomas, the company will carry out this vision by inspiring innovation and promoting growth using profitable technologies and products that benefit society and reduce environmental impact.
“Our new name is derived from the very essence of our company and how we work,” said Nicholas Smith, global head of textile coatings at Covestro, “with the “Co” in Covestro standing for our commitment to collaborative partnership with the industries that we serve, while “vest” refers to the fact that we are well-invested in state-of-the-art facilities, and “stro” comes from “strong,” referring to the fact that we are already a strong company, strong in technology, in our markets and in our people.”
Although it has a new identity, Covestro will maintain its commitment to the textiles industry and continue to develop the technology and services model it launched in 2014, when operating under the INSQIN name.
INSQIN offers new generation polyurethane (PU) synthetics and other PU-coated fabrics made without solvents that are both versatile and high functioning and used in the sports and fashion sectors.
In April, the company introduced its range of bio-based PU dispersions under the Impranil eco name. These products contain renewable content as high as 65 percent, helping manufacturers to reduce CO2 emissions.
New developments also include Impranil DAA, which provides softer fabrics for apparel, Impranil DLE used for high performance shoe uppers and Impranil DLC-T used for durable interiors in automotives.