Bayer MaterialScience sells Exatec stake to GE

28 August 2007 04:31  [Source: ICIS news]

SINGAPORE (ICIS news)--German polymer major Bayer MaterialScience said on Tuesday that it plans to sell its entire stake in Exatec to GE Plastics, and will now develop its own polycarbonate (PC) automotive glazing technologies independently.

Financial terms of the deal were not disclosed.

Bayer and General Electric formed Exatec in 1998 as a 50:50 joint venture, with the aim of developing technologies to produce automotive glazing systems from PC.

Bayer MaterialScience will now provide all customers with ongoing development of technologies for PC glazing and the tailor-made plastic Makrolon, it said in a statement.

"In the next few years, Bayer MaterialScience anticipates fast growth in the potential applications for PC, particularly in the market for large panorama roofs," said Gunter Hilken, head of the firm’s PC business unit.

In the medium and long term, the material can also be used for rear windows, and in further areas of application within the automotive industry, he added.

By: Jeanne Lim
+65 6780 4359

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