Bayer to build €20m PU raw materials plant in India

26 March 2009 17:47  [Source: ICIS news]

TORONTO (ICIS news)--Bayer MaterialScience plans to invest €20m ($27m) to build a polyurethane (PU) raw materials plant in India, the Germany-based polymers and plastics producer said on Thursday.

The plant in Ankleshwar in the India’s north-western Gujurat state would produce aromatic and aliphatic polyisocyanates, which are raw materials for the formulation of a variety of polyurethane coatings, adhesives and sealants, the company said.

Start-up was expected for 2011, it said.

"This investment underlines our commitment to India and the region,” Joachim Wolff, head of Bayer MaterialScience’s coatings, adhesives and specialties business unit, said.

“Despite the currently weak global economic scene, we believe India holds much promise for sustainable market growth," he added.

($1 = €0.74)

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By: Stefan Baumgarten
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