Bayer MaterialScience today held a ground-breaking ceremony for the third phase of the expansion of its Polymer Research & Development Center (PRDC) in Shanghai, China. The PRDC, which will become an innovation center for the company, is scheduled to be operational by the second half of 2012.
The expansion is part of a EUR 1 billion investment plan announced in December 2010 and the company's global strategy of moving closer to customers in high-growth emerging markets.
"China is the largest market in the Asia/Pacific region and the third largest single market for Bayer globally. China and Asia are central to our global strategy," said Bayer AG's Management Board Chairman, Dr. Marijn Dekkers. "This expansion of our R&D facility is an important part of our large and continuous investment here in Shanghai. The expansion of our Center again underscores our company's strong commitment to innovation as a foundation for our future growth. Central to this strategy is driving closer proximity to our customers - ensuring that we are positioned to quickly respond to their needs."
After the expansion the number of employees at the PRDC is planned to increase from currently 130 to nearly twice that number. The PRDC will then have a full range of R&D expertise and include solutions-focused offerings for customers in specific industries such as mobility, renewable energy and construction. Its R&D activities will re-structure to focus on distinct industries, enabling the center to provide industry-specific solutions.