BAYER AND POLYONE POLYURETHANE SYSTEMS JOINT VENTURE

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BAYER AND POLYONE POLYURETHANE SYSTEMS JOINT VENTURE
24 April 2003 - Bayer MaterialScience AG

Bayer Polymers LLC and PolyOne Corporation today announced they have formed BayOne Urethane Systems, LLC--a 50/50 joint venture to develop and market polyurethane systems in the United States and Canada.

The joint venture will become operational in June.

Polyurethane 'systems' are polyurethane components--isocyanates and polyol additive blends--formulated to meet specific product applications. Polyurethane systems are used worldwide in an extensive variety of applications, including automotive products, construction, furniture, flooring, industrial and commercial insulation, appliances, and footwear.

Bayer Polymers' polyurethanes business, with Americas Region headquarters in Pittsburgh, supplies polyurethane systems and raw materials worldwide. PolyOne, headquartered in Cleveland, is an international polymer services company. Its polyurethanes operations include custom-formulated polyurethane systems.

The joint venture, headquartered in St. Louis, will focus primarily on the following markets: carpet backing and related applications, non-automotive flexible molded foams, integral skins, footwear, instrument panels and filters.

'This joint venture will break new ground for Bayer and PolyOne. By leveraging the strengths of Bayer's technology and raw materials and PolyOne's regional manufacturing capabilities and technical service know-how, the venture will be positioned to provide our customers superior products and service,' said Peter Vanacker, Senior Vice President and Head of Polymer Solutions for Bayer Polymers.

'By combining Bayer and PolyOne polyurethane systems portfolios and commercial and technical expertise, BayOne Urethane Systems, LLC will be able to provide clear benefits to a larger population of customers,' added Denis Belzile, Vice President and General Manager of PolyOne's Specialty Resins and Formulators Group. 'Our combined systems formulating experience, customer and technical service orientation, and regional manufacturing flexibility make a powerful combination. It is an exciting opportunity to provide better service to our customers,' he said.

Bayer facilities involved in the joint venture include Bayer Polymers' research and development facilities and sales offices in Pittsburgh, the corporation's production and laboratory facilities in New Martinsville, W. Va., and research and technical service facilities in Dalton, Ga.

PolyOne locations included in the joint venture are St. Louis (joint venture headquarters, production and laboratory facilities); Commerce, Calif., and Sussex, Wis., (production and laboratory facilities); and Kennesaw. Ga., (laboratory and technical services operations).

http://www.bayermaterialscience.com

About: Bayer MaterialScience AG
Bayer Corporation, headquartered in Pittsburgh, is part of the worldwide Bayer Group, an international health care, nutrition and innovative materials group based in Leverkusen, Germany. Bayer employs 23,300 in North America with net North American sales of 8.8 billion euros in 2003. Bayer’s three operating business areas – HealthCare, CropScience and MaterialScience, improve people’s lives through a broad range of essential products that help diagnose and treat diseases, protect crops and advance automobile safety and durability.

Bayer MaterialScience AG is one of the world's largest producers of polymers and high-performance plastics. The main customers for Its innovative developments in coatings, adhesives, insulating materials and sealants, polycarbonates and polyurethanes are the automotive and construction industries, the electrical/electronics segment and manufacturers of sports and leisure goods, packaging, and medical devices.

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