Bayer MaterialScience To Sell Polyester Resins Businesses
LEVERKUSEN, Germany – Bayer MaterialScience LLC has agreed to sell its global powder polyester resins business and its U.S.-based liquid polyester resins merchant business to Stepan Co. of Northfield, IL. The sale is scheduled to be completed by June 1. Financial terms were not disclosed.
Both Bayer businesses are located in Columbus, GA. The 45 Bayer employees who work at the Columbus facility will be offered the opportunity to become Stepan employees.
Bayer will retain its trade name Desmophen® to continue to sell its portfolio of products to the coatings, adhesives, sealants and elastomers industries around the world, including liquid polyester resins in markets outside the United States.
Bayer acquired the Columbus facility in 2000 when it purchased Sybron Chemicals Inc. Today, the facility includes both commercial and production operations, serving North America as a leading producer of polyester resins. Powder polyester resins are used in a variety of coatings applications, including industrial metal and transportation coatings. Liquid polyester resins are utilized as building blocks in various coatings and adhesives.
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