is to invest EUR 20 million
in a new aromatic and aliphatic polyisocyanate manufacturing facility in India
as part of its strategy to grow its business in the country and strengthen its
position as a market leader in the supply of polyurethane raw materials. The
new plant in Ankleshwar, in the north-western state of Gujurat, is scheduled
to start operating in 2011.
The facility will produce Desmodur® polyisocyanates, raw materials for
the formulation of a variety of polyurethane coatings, adhesives and sealants.
Specifically, these will be Desmodur® L for the coating of wood and furniture
as well as for the formulation of adhesives for flexible packaging, and Desmodur®
N, used in the automotive, industrial and plastic coating sectors.
"This investment underlines our commitment to India and the region. Despite
the currently weak global economic scene, we believe India holds much promise
for sustainable market growth," says Dr. Joachim Wolff, head of the Coatings,
Adhesives, Specialties (CAS) Business Unit and member of the Executive Committee
of Bayer MaterialScience. "The coatings and adhesives sector continues
to establish itself in India as its economy grows. The Ankleshwar investment
highlights our commitment to this market and will strengthen our ability to
meet demand in the future," says Dr. Wolff.
Bayer MaterialScience also has a polyurethane systems house in India - its
first in the country - which was opened in Greater Noida, near New Delhi, in