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Business
Bayer will purchase Taiwan plastics maker
Swiss chemical maker will work with Germany's Max Planck Institute
by Alexander H. Tullo
October 30, 2006
| A version of this story appeared in
Volume 84, Issue 44
Bayer has agreed to buy Ure-Tech, a manufacturer of thermoplastic polyurethane based in Taichung, in central Taiwan. Ure-Tech employs 180 staff and recorded sales of $55 million in 2005. Bayer describes Ure-Tech as the largest producer of thermoplastic polyurethane in the Asia-Pacific region. Bayer says it will combine Ure-Tech with its existing thermoplastic polyurethane unit, which had sales last year of about $240 million. Bayer figures that the global market for such resins and films was worth about $1.5 billion last year.
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