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Bayer Announces Expansion of its Polymer Research & Development Center in Shanghai

SpecialChem / Jun 24, 2011

Bayer MaterialScience has held a ground-breaking ceremony for the third phase of the expansion of its Polymer Research & Development Center (PRDC) in Shanghai, China. The PRDC, which will become an innovation center for the company, is scheduled to be operational by the second half of 2012.

The expansion is part of a EUR 1 billion investment plan announced in December 2010 and the company's global strategy of moving closer to customers in high-growth emerging markets.

"China is the largest market in the Asia/Pacific region and the third largest single market for Bayer globally. China and Asia are central to our global strategy," said Bayer AG's Management Board Chairman, Dr. Marijn Dekkers. "This expansion of our R&D facility is an important part of our large and continuous investment here in Shanghai. The expansion of our Center again underscores our company's strong commitment to innovation as a foundation for our future growth. Central to this strategy is driving closer proximity to our customers ensuring that we are positioned to quickly respond to their needs."

After the expansion the number of employees at the PRDC is planned to increase from currently 130 to nearly twice that number. The PRDC will then have a full range of R&D expertise and include solutions-focused offerings for customers in specific industries such as mobility, renewable energy and construction. Its R&D activities will re-structure to focus on distinct industries, enabling the center to provide industry-specific solutions.

About Bayer MaterialScience

With 2010 sales of EUR 10.2 billion, Bayer MaterialScience is one among the world's largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction and the sports and leisure industries. At the end of 2010, Bayer MaterialScience had 30 production sites and employed approximately 14,700 people around the globe. Bayer MaterialScience is a Bayer Group company.

Forward looking statements

This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website.The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Source: Bayer MaterialScience


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