Strategic focus on polycarbonate sheet market
Pittsburgh, July 2, 2012 — Bayer MaterialScience LLC today announced the sale of its polyester-based Vivak® sheet business in NAFTA to Plaskolite, Inc. of Columbus, Ohio. Financial terms of the sale are not being disclosed. All Bayer employees involved in this business will remain with Bayer.
Vivak® polyester sheet is used in a wide range of applications, including point-of-sale displays, vending machines, promotional signage, and packaging and containers in the food industry.
"Vivak® has excellent mechanical properties and is a leading brand in the North American polyester sheet market," said Mitchell Grindley, vice president of sales for Plaskolite. "It is stocked by leading sheet distributors. We are delighted to welcome it into the Plaskolite product family."
"Our strategic focus moving forward will be on our Makrolon® polycarbonate sheet business, and this sale will free up additional capacity for strengthening this focus further," said Dennis Duff, managing director of Bayer's sheet business in the NAFTA region. "We have access to some of the world's leading experts in polymer technology and applications, and our market-driven innovation positions us for sustainable growth in this segment."
Bayer offers Makrolon® polycarbonate sheet products for the architectural, security, transportation, industrial, signage and recreational markets. It maintains production facilities in Sheffield, Mass.
About Bayer MaterialScience LLC:
Bayer MaterialScience LLC is one of the leading producers of polymers and high-performance plastics in North America and is part of the global Bayer MaterialScience business with approximately 14,800 employees at 30 production sites around the world and 2011 sales of 10.8 billion euros. Bayer MaterialScience's 2011 sales in North America were $2.9 billion. The company manufactures high-tech polymer materials and develops innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction, medical, and sports and leisure industries. Sustainability is central to Bayer MaterialScience LLC's business and is based around the key areas of innovation, product stewardship, excellence in corporate management, social responsibility and respect for the environment.
Bill Allan, Phone: 412-777-5200
For more information about Bayer MaterialScience LLC, visit www.bmsnafta.com.
This news release may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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