Company News: Bayer
February 22, 2001
Bayer AG, Leverkusen, Germany, announced plans to build production facilities for polyurethane coatings raw materials near Shanghai, China, with construction scheduled to begin this spring on the $110 million project. The project’s first phase will result in TDI- and HDI-based polyisocyanates capacity totaling 11,500 tons per year, with production expected to begin in 2003. A later expansion will increase the capacity to 20,000 tons per year, the company said. The second phase of the total project calls for construction of a $60 million HDI precursor production facility. The company also said it will open a technical service center for polymers in Shanghai in mid-2001. Bayer said the expansions are the result of continued rapid growth in global demand for materials used in high-performance polyurethane coatings such as automotive finishes, plastics coatings and wood and furniture finishes.