Bayer MaterialScience Combines Chinese Businesses
Bayer MaterialScience said it has combined its four units under Bayer MaterialScience (China) to offer improved services and prepare for bigger growth in the Chinese market, the Shanghai Daily reported.
After the consolidation, the four units will have a total investment of RMB 2.1 billion in fixed assets in Shanghai by 2012, said the newspaper. The German company will also integrate production, marketing and sales, as well as research and development activities in China, and it will produce RMB 4 billion worth of products annually from the country which has become its third-largest market worldwide, and a growth engine for its global business.
Bayer's new manufacturing plant will be completed by the end of 2010 with an initial annual production capacity of 250,000 tons of toluene diisocyanate.