By Liz White, UT staffLeverkusen, Germany-Bayer MaterialScience llc of Pittsburgh, Pennsylvania, announced 17 Aug that it is to take over Polythane Systems Inc. of Spring, Texas, in a deal to be finalised by 31 Aug 2005. Polythane is a leading US supplier of polyurethane spray foam systems for roof insulation, according to a Bayer MaterialScience statement. "Through the acquisition of PSI, we are gaining direct access to the commercial roofing business and to other speciality markets," said Jerry MacCleary, head of marketing and business development in BMS's Polyurethanes business unit in North America, in the BMS statement. No financial details of the deal were released by the firms. BMS said it will incorporate PSI's system house into its North American polyurethanes unit, and take over all 31 PSI employees, as well as the company's trademarks, buildings and facilities. PSI subsidiary Everest Coatings Inc.-which manufactures elastomeric acrylic coatings, polyurea systems, sealants and base coats-is included in the deal, added BMS. According to BMS, Everest's roofing system has already been used to insulate nearly 50 million square metres of office roofs in North America and the Caribbean. The integration of the two companies will, "combine the excellent reputation and wide-ranging resources of Bayer with the technology and the production and marketing expertise of PSI. This will result in extra added value for the customer," said Tom Sparks, ceo of PSI, in the BMS statement. "
