Sponsor Summary

Covestro is a Bayer spin off formed in the fall of 2015 and formerly Bayer MaterialScience, Bayer's $12.3 billion materials science division. Covestro shares were first offered on the Frankfurt Stock Exchange in October 2015. Bayer sold off shares in 2017 and by September had a 24.6% stake, meaning that Bayer no longer had a controlling interest; Bayer's pension fund had an 8.9% stake managed separately.

Deal

02/2018

Covestro sponsors Pittsburgh Penguins A global provider of high-tech materials, Covestro brings 80 years of innovation experience to the partnership. The company's advanced technologies are used in a wide range of industries, helping to make everyday products safer, stronger, lighter and more energy efficient. Many of these innovative solutions are developed at the company's Robinson Township location, which serves as its North American headquarters and one of three R&D centers globally.

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