Bayer MaterialScience Sells Part of its Unsaturated Polyester Resins Business
LEVERKUSEN, Germany - Bayer MaterialScience has sold a part of its unsaturated polyester resins business to the Italian company Veneziani S.p.A. The products involved in the transaction are used primarily for the formulation of wood finishes, thus divesting Bayer MaterialScience of selected product grades that no longer fit in with its overall long-term portfolio.
Bayer MaterialScience’s full range of unsaturated polyesters is grouped together under the name Roskydal®. Neither this brand, nor any production plants, nor workforce will be affected by the transaction; the majority of the business will be continued by Viverso, a fully owned subsidiary of Bayer MaterialScience. Veneziani S.p.A. will continue to market the products, ensuring continuity in the supply to its customers.
The Veneziani Group has facilities for the production of engineering polymers – including unsaturated polyesters – at its site in Garbagnate, Italy. It is a leading supplier of raw materials, particularly for applications in the field of corrosion protection. The company, which also has a production site in Castelnuovo B. D’Adda, Italy, employs 145 people and reached sales in 2007 of €56 million.
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