Bayer MaterialScience buys remaining shares in polyurethane JV

30 March 2012 17:33  [Source: ICIS news]

LONDON (ICIS)--Bayer’s material science segment is buying the remaining shares in its 50:50 polyurethane (PU) joint venture Baule from EXIMIUM and other shareholders, the German chemical major said on Friday.

The joint venture, headquartered in Romans, France, was established in 2008 by polyurethane firm Michel Baule, renamed EXIMIUM in 2009, and Leverkusen-based Bayer.

Bayer said Baule is a global leader in the development, formulation and processing of polyurethane cast elastomers.

“The complete acquisition of Baule enables us to expand our potential for cast elastomers and also provides us with even greater access to this attractive market,” said Wilhelm Lamberts, assigned president of Baule.

“This also emphasises Bayer MaterialScience’s strategic orientation on growth markets,” he added.

Financial details were not disclosed.

By: Leigh Stringer
+44 208 652 3214

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