Bayer-Mitsui JV to double production at plastic chemicals plant

01 October 2012 12:59  [Source: ICIS news]

LONDON (ICIS)--A joint venture between Bayer and Japanese conglomerate Mitsui & Co, set up to produce specialty bisphenols, is to double production capacity at its Bitterfeld site in east Germany, the chemicals giant said on Monday.

With an estimated cost of €50m ($64m), the work involves the construction of a second plant specialising in the production of materials for use in Apec, a highly heat-resistant plastic produced by Bayer MaterialScience for use in the automotive, lighting and electronics industries.

Construction started on 1 October, and the plant is expected to come on stream in mid-2014.

According to Bayer, sales of the material are increasing significantly faster than those of the overall plastics market, which it predicts will grow by 5% per year in the medium term.

Hi-Bis GmbH, the joint venture company, is 55%-owned by Mitsui subsidiary Honshu Chemical Industry, 35%-owned by Mitsui, and 10%-owned by Bayer.

The existing Bitterfeld bisphenols plant owned by the joint venture began production in November 2004, and cost €38m to construct.

($1 = €0.78)

By: Tom Brown
+44 208 652 3214

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