Bayer MaterialScience completes Ure-Tech acquisiti - footwearbiz: Lead

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Bayer MaterialScience completes Ure-Tech acquisition

02/07/2007

Germany-based Bayer MaterialScience has completed its acquisition of the Taiwan Ure-Tech Group, creating what is now said to be the world’s largest supplier of resins and films. Having completed the deal, Bayer MaterialScience now intends to relocate the global headquarters of its Thermoplastic Polyurethanes (TPU) Business Unit to Hong Kong by October 1, in order to further boost Bayer MaterialScience’s TPU position in the expanding Asia Pacific market.

Dr. Tim Bielfeldt, global head of the TPU Business Unit, explained, "Moving our global headquarters to Hong Kong highlights the importance of the region. This focus puts Bayer MaterialScience in a solid leadership position, letting us tap into and capture future growth in the world’s largest and fastest expanding TPU market - Greater China."

In 2006, the total global market for TPU resins and films was estimated to
be worth about €1.3 billion, and the annual growth rate in Asia Pacific is estimated to be approximately 10%.


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