Pittsburgh, Pennsyalvania - Bayer MaterialScience llc has acquired the remaining 50 percent of BayOne Urethane Systems llc (BayOne), a marketing joint venture for polyurethane specialties in the US and Canada, from PolyOne Corp. Financial details of the transaction were not disclosed.
BayOne, headquartered in St Louis, Missouri, has 33 employees involved in urethane systems development and service in application areas such as footwear, rigid foams and flexible moulded foams. It was created in 2003 as a 50:50 joint venture between Bayer MaterialScience llc and PolyOne, a global supplier of specialised polymer materials, tailored services and solutions.
"Acquiring the remaining 50 percent of BayOne will enable Bayer MaterialScience llc to continue its focus on sustainable growth in the polyurethane specialities business in the NAFTA region," explained Peter Vanacker, head of the Polyurethanes Business Unit and member of the Executive Committee of Bayer MaterialScience AG, in a 2 Dec press announcement.
"BayOne now joins the global Bayer MaterialScience family of polyurethane systems houses," said Jerry MacCleary, senior vice president, head of Polyurethanes North America Marketing and Business Development, Bayer MaterialScience llc. "Our systems house strategy is designed to bring polyurethane innovations and applications into local markets very quickly to meet growing customer requirements," he added, in the prepared statement.
"This transaction gives BayOne full access to Bayer MaterialScience markets and technologies that can accelerate growth," said Fernando D'Andrea, general manager of BayOne Urethane Systems llc.
Bayer MaterialScience llc is one of the leading producers of polymers and high-performance plastics in North America and is part of the global Bayer MaterialScience business with about 14 300 employees at 30 production sites around the world and 2009 sales of Euro 7.5 billion ($9.9 billion). The company is global market leader in polyurethane materials, and makes high-tech polymer materials and develops innovative solutions for products used in many areas of daily life.