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BAYER POLYMERS LLC AND CYDSA S.A. DE C.V AGREE TO TERMINATE INDUSTRIAS CYDSA BAYER (ICB) JOINT VENTURE
06 February 2003 - Bayer MaterialScience AG
| Bayer Polymers LLC announced that its affiliate, Bayer de Mexico, has signed an agreement with Cydsa S.A. de C.V, a Mexican corporation, to terminate its Industrias Cydsa Bayer (ICB) joint venture.
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The ICB joint venture, established in 1977, produces and markets toluene diisocyanate (TDI) for the Mexican market. The joint venture operates a TDI facility with a capacity of approximately 20,000 tons per year at a plant in Coatzacoalcos, Mexico. The facility will be shut down and decommissioned. In connection with the termination of the joint venture, and to facilitate a smooth transition of TDI supply for customers in Mexico, Bayer will continue to provide TDI from storage facilities within the Coatzacoalcos site for the foreseeable future. Supplies of TDI will be sourced from Bayer's Baytown, Texas, or New Martinsville, W. Va., facilities. Sales and customer services will be provided by Bayer de Mexico.
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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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