Shanghai, China -- Bayer MaterialScience celebrated the third of phase of the expansion of its polymer research & development centre (PRDC) in Shanghai, China with a 22 June groundbreaking ceremony.
The PRDC, which will become an innovation centre for the company, is scheduled to be operational by the second half of 2012.
The expansion is part of a Euro-1000 million ($1400-million) investment plan announced December 2010 by the Leverkusen, Germany-headquartered company.
"China is the largest market in the Asia/Pacific region and the third largest single market for Bayer globally. China and Asia are central to our global strategy," said Bayer AG's board chairman, Marijn Dekkers.
He added, "This expansion of our R&D facility is an important part of our large and continuous investment here in Shanghai. The expansion of our centre again underscores our company's strong commitment to innovation as a foundation for our future growth."
The number of employees at the PRDC is due to double from the current figure of 130."