25 November 2009 16:39 [Source: ICIS news]
TORONTO (ICIS news)--Bayer MaterialScience has agreed to set up a polycarbonate sheets joint venture with India’s Malibu Plastica to further grow its business in that country, the Germany-based polymers and plastics major said on Wednesday.
The joint venture, to be called Bayer Malibu Polymers, will supply solid, multiwall and corrugated sheets, as well as thermoformed products made from polycarbonate sheets to industrial, building, transportation and other markets in India, Bayer said.
It will be based in Ahmedabad in ?xml:namespace>
“The new joint venture will enable us to support our Indian customers along the value chain more intensively,” said Thomas-Karl Kastner, global head of Bayer MaterialScience´s polycarbonate sheet business.
Financial terms or capacity details were not disclosed.
Bayer said last week it expected global polycarbonate industry to grow by 5-6%/year, with growth driven by the Asia Pacific region.
Bayer MaterialScience’s sheet business currently operates manufacturing sites in
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