BAYER MATERIALSCIENCE AND TEIJIN CHEMICALS SIGN LETTER OF INTENT TO SUPPLY EACH OTHER WITH POLYCARBONATE RESINS

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BAYER MATERIALSCIENCE AND TEIJIN CHEMICALS SIGN LETTER OF INTENT TO SUPPLY EACH OTHER WITH POLYCARBONATE RESINS
15 December 2004 - Bayer MaterialScience AG

Teijin Chemicals Ltd., Japan, and Bayer MaterialScience AG, Germany, have signed a letter of intent (LOI) to supply each other with specific polycarbonate resin grades on a regional basis.

This agreement will enable both companies to improve efficiency, enhance productivity and increase the availability of polycarbonate in the global market. Financial details of the agreement were not disclosed.

Teijin Chemicals is producing Panlite® polycarbonate in Japan and Singapore. Bayer MaterialScience is producing Makrolon® polycarbonate in Germany, Belgium, USA and Thailand.

Both companies have new polycarbonate production plants under construction in China. Initially, as part of the agreement, Bayer and Teijin have agreed to supply each other with specific types of polycarbonate resin for specific application. Teijin Chemicals is planning to start Panlite® polycarbonate production in Jiaxing city, Zhejiang District in April 2005. Bayer will start its Makrolon® polycarbonate production in the Shanghai Chemical Industry Park in mid-2006. The cooperative range can be expanded depending upon the degree of its progress.

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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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