Bayer
MaterialScience builds new manufacturing facility for polyurethane
raw materials in India
• 20 Million Euro investment
underlines growth strategy in the region
• New plant in Ankleshwar to produce Desmodur® polyisocyanates
from 2011
Leverkusen, March 26, 2009 –
Bayer MaterialScience is to invest EUR 20 million in a new
aromatic and aliphatic polyisocyanate manufacturing facility
in India as part of its strategy to grow its business in the
country and strengthen its position as a market leader in
the supply of polyurethane raw materials. The new plant in
Ankleshwar, in the north-western state of Gujurat, is scheduled
to start operating in 2011.
The facility will produce Desmodur® polyisocyanates,
raw materials for the formulation of a variety of polyurethane
coatings, adhesives and sealants. Specifically, these will
be Desmodur® L for the coating of wood and furniture as
well as for the formulation of adhesives for flexible packaging,
and Desmodur® N, used in the automotive, industrial and
plastic coating sectors.
"This investment underlines our commitment to India
and the region. Despite the currently weak global economic
scene, we believe India holds much promise for sustainable
market growth," says Dr. Joachim Wolff, head of the Coatings,
Adhesives, Specialties (CAS) Business Unit and member of the
Executive Committee of Bayer MaterialScience. "The coatings
and adhesives sector continues to establish itself in India
as its economy grows. The Ankleshwar investment highlights
our commitment to this market and will strengthen our ability
to meet demand in the future," says Dr. Wolff.
Bayer MaterialScience also has a polyurethane systems house
in India – its first in the country – which was
opened in Greater Noida, near New Delhi, in mid-2007.
About Bayer MaterialScience:
With 2008 sales of EUR 9.7 billion, Bayer MaterialScience
is among the world’s largest polymer companies. Business
activities are focused on the manufacture of high-tech polymer
materials and the development of innovative solutions for
products used in many areas of daily life. The main segments
served are the automotive, electrical and electronics, construction
and sports and leisure industries. Bayer MaterialScience has
30 production sites around the globe and employed approximately
15,100 people at the end of 2008. Bayer MaterialScience is
a Bayer Group company.
Contact:
Andrea Knebel-Kyriakidis, phone: +49 214
30-70313
E-Mail : andrea.knebel@bayermaterialscience.com
Find more information at www.bayermaterialscience.com.
Forward-Looking Statements
This release may contain forward-looking statements based
on current assumptions and forecasts made by Bayer Group or
subgroup management. Various known and unknown risks, uncertainties
and other factors could lead to material differences between
the actual future results, financial situation, development
or performance of the company and the estimates given here.
These factors include those discussed in Bayer’s public
reports which are available on the Bayer website at www.bayer.com.
The company assumes no liability whatsoever to update these
forward-looking statements or to conform them to future events
or developments.
