Leverkusen, Germany -- Bayer MaterialScience has unveiled its new premium foams technical centre and commissioned a production plant for coating raw materials.
The new facilities have a combined cost of more than EUR 45 million ($60.8 million).
Patrick Thomas, CEO of Bayer MaterialScience said: "This allows us to supply key industries more precisely and with higher volumes of exactly the products they need.
"The company is expanding its competence in developing new applications and manufacturing processes for its materials in close collaboration with customers.
Bayer MaterialScience has invested more than EUR 10 million in the test centre and the company expects the global polyurethane market to continue growing at an average annual rate of about 5%.
Bayer MaterialScience is expanding its production capacity for the precursors HDI () and IPDI (Isophorone diisocyanate) - both organic compounds in the isocyanates class that are used for polyurethane coatings.
The company has invested a year and a half and EUR 35 million in the construction of the multipurpose plant in Leverkusen that can produce either of the raw materials depending on demand. The company said the process is environmentally compatible and highly efficient.
"With the production facility and the new technical centre, we have set the course for strengthening our leading position as a developer and manufacturer of premium, chemistry-based materials," said Thomas. "Despite the current challenges, such as high energy and raw material costs and rising global competition, Bayer MaterialScience continues to have good prospects for long-term, profitable growth."