Bayer buys Ure-Tech Group

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Bayer MaterialScience has announced that it will acquire Taiwan’s Ure-Tech Group, the largest thermoplastic polyurethane producer in the Asia Pacific region.

has announced that it will acquire

’s Ure-Tech Group, the largest thermoplastic polyurethane (TPU) producer in the Asia Pacific region.

With this acquisition, Bayer MaterialScience will become the worldwide largest supplier and solutions provider of TPU resins and films.

The deal is subject to regulatory approval by the cartel office and is expected to be closed in the first quarter of 2007. Both parties have agreed not to disclose purchase price and other related details of the acquisition.

In 2005, employees of the Ure-Tech Group generated sales of around $55m. Sales of Bayer MaterialScience’s Business Unit Thermoplastic Polyurethanes amounted to €192m last year. In 2005, the total TPU resins and films market was worth about €1.2bn.

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