Bayer is investing in the production of polyurethane coating raw materials in the People's Republic of China. New large-scale production facilities, to be built in the Shanghai area at a cost of US$ 110 million, will further strengthen the Group's global leadership position in the fast-growing market for coating raw materials. Construction is scheduled to begin in spring 2001. The business license for its wholly foreign-owned enterprise 'Bayer Coatings Systems Shanghai Company Limited' was recently received. The first phase of construction will create 11,500 tons per year of capacities for TDI- and HDI-based polyisocyanates, due to become operational in 2003, with expansion to 20,000 tons planned for the medium term. The capital expenditures for this first phase will amount to US$ 50 million. The second phase will involve the construction of production facilities for the HDI precursor, at an additional cost of US$ 60 million, to complement a 30,000 tons-a-year HDI plant already being built in Leverkusen and due on stream in 2002. These investment plans are Bayer's response to the continuing rapid increase in global demand for the raw materials used in high-performance polyurethane coatings. By establishing a strong manufacturing base in the People's Republic, Bayer is meeting the need for production facilities located close to the market. China is now one of the principal growth markets for coatings in Asia. Bayer also produces coating raw materials at facilities in Europe, North America, South America and Japan. The rise in world demand for coating polyisocyanates has been brought about by increasing quality requirements in applications such as automotive finishing, plastics coating, and wood and furniture finishing. To support its market activities in the fields of coating raw materials, polyurethanes and plastics, Bayer will open a technical service center for polymers in Shanghai in mid-2001. The center will have the Bayer Group's worldwide expertise at its disposal, enabling it to provide optimum back-up to local customers.
Bayer: Slow start to the year as expected
The Bayer Group experienced a slow start to 2023 as expected. “Sales were on a par with the exceptionally strong prior-year quarter,” CEO Werner Baumann said on Thursday when presenting the Quarterly Statement for the first quarter. The normalization in the glyphosate business has accelerat ... more
Bayer: Significant growth in sales and earnings
The Bayer Group achieved strong growth last year, posting significantly higher sales and earnings. “2022 was a very successful year for Bayer despite the challenging environment. We were able to deliver, even during these difficult times, and met the upgraded financial targets we set in Aug ... more
Bill Anderson to become CEO of Bayer AG
The Supervisory Board of Bayer AG has appointed Bill Anderson to become CEO of Bayer, effective June 1, 2023. He will join Bayer as a member of the Board of Management on April 1, 2023. Bill Anderson was elected unanimously after a thorough selection process which began mid last year. Werne ... more
Bayer Corporation, headquartered in Pittsburgh, is a subsidiary of Bayer AG, an international health care, nutrition and innovative materials group based in Leverkusen, Germany. In North America, Bayer had 2006 net sales of 7.8 billion euros and employed 17,200 at year end. Bayer’s three s ... more
Bayer is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Our products and services are designed to benefit people and improve their quality of life. At the same time we want to create value through innovation, growth and high earni ... more
