Leverkusen, France - Bayer MaterialScience AG and Michel Baulé SA are to merge their cast-elastomers businesses into a joint venture named Baulé SAS.
Each company will hold a 50 percent interest in the new venture, which will be headquartered in Romans, France, the current location of Michel Baulé. No financial details were revealed.
Deliveries and technical support for customers all over the world will be ensured by the joint venture´s French and German sites and its subsidiaries in the UK, the US and China, said the 22 April announcement from the two groups.
The transaction is subject to approval of the relevant antitrust authorities. Financial details are not being disclosed.
The JV combines the "comprehensive and unique know-how of Bayer MaterialScience in polyurethane cast elastomers," with "the long-term experience and the extensive processing knowledge of theglobally operating and successful polyurethane elastomer systems houseBaulé," said Peter Vanacker, head of BMS' Polyurethanes Business Unit, in the joint announcement.
BMS' BaySystems network keeps on expanding, with BMS' most recent acquisition being that of Dutch systems business Resina Chemie, in early April.
"Our new joint venture will be operating in a growing market and will hence be facing bright business perspectives," said Michel Baulé, head of the Baulé group of companies, who has been designated president and ceo of the new alliance.
Michel Baulé said Baulé SAS will be "very close to its customers, thereby continuing the successful Baulé approach." But, he added, the alliance with Bayer MaterialScience will "considerably strengthen the global position of Baulé," thanks to the BaySystems network.
Baulé SAS will develop, produce and market prepolymer systems for hot- and cold-cast elastomers as well as the low-pressure dispensing equipment for processing them.
PIC: Michel Baulé, who will be president and ceo of the new Baulé SAS joint venture between Baulé and BMS.