Bayer MaterialScience LLC
Saudi Basic Industries Inc. (Sabic) and ExxonMobil Chemical Co. have formed another joint venture to add plastics and petrochemicals production on the U.S. Gulf Coast.
The new Faraprene material provides soft touch and grip in injection molded products.
Bayer AG has reduced its majority stake in Covestro AG by 10.9 percent to 53.3 percent, through selling 22 million of its shares at 66.50 euros ($70.20) per share, the German chemicals and pharmaceutical group announced March 1.
The share price of Covestro rose by 10 percent soon after listing on the Frankfurt Stock Exchange Oct. 6.
Covestro AG, formerly Bayer MaterialScience, is to highlight the role of Bisphenol A (BPA) in modern plastics at this year's Fakuma trade fair in Germany.
Covestro AG, the former Bayer AG MaterialScience business, is preparing for an initial public offering before the end of the year.
Covestro AG, the former Bayer AG MaterialScience business, has officially adopted its new name.
German chemical giant Bayer AG may plan to list its plastics division as early as October to take advantage of current rich stock market valuations, according to a Reuters report that cites sources familiar with the deal.
Rising prices for PE and PS, a new alliance in Europe and Bayer introduces Covestro.
Bayer AG has given its MaterialScience business the new name of Covestro.
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