Bayer MaterialScience and Baulé Establish Systems House Joint Venture
Wide range of synergies in polyurethane casting systems
Leverkusen/Romans, April 22, 2008 - Bayer MaterialScience AG and Michel Baulé SA have signed an agreement to merge their respective cast elastomers businesses into a joint venture named Baulé SAS, in which each company will hold a 50 percent interest. It will be headquartered in Romans, France. Deliveries and technical support for customers all over the world will be ensured by the joint venture´s French and German sites and its subsidiaries in the United Kingdom, the United States and China. The transaction will be completed subject to the approval of the relevant antitrust authorities. Financial details of the transaction are not being disclosed.
"This joint venture brings together the comprehensive and unique know-how of Bayer MaterialScience in polyurethane cast elastomers including the competence of the global BaySystems network of systems houses, and the long-term experience and the extensive processing knowledge of the globally operating and successful polyurethane elastomer systems house Baulé," says Peter Vanacker, head of the Polyurethanes Business Unit and a member of the Executive Committee of Bayer MaterialScience.
"Our new joint venture will be operating in a growing market and will hence be facing bright business perspectives. It will be very close to its customers all over the world, thereby continuing the successful Baulé approach, but in addition the alliance with Bayer MaterialScience will considerably strengthen the global position of Baulé thanks to the BaySystems network of polyurethane systems houses," explains Michel Baulé, head of the Baulé group of companies and designated President and CEO of the new alliance.
The new company will develop, produce and market prepolymer systems for hot- and cold-cast elastomers and the low-pressure dispensing equipment for processing them. The systems are used for high-quality specialty applications in various sectors, ranging from the paper industry through the sports and leisure goods sector to concrete processing and mining. They are characterized by exceptional elasticity, tear resistance and abrasion resistance. Services available include customized formulations, processing equipment, intensive application technology support and the development and optimization of processes and prototypes.
About Bayer MaterialScience:
With 2007 sales of EUR 10.4 billion, Bayer MaterialScience is among the world's largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction, and sports and leisure industries. At the end of 2007, Bayer MaterialScience had 30 production sites and employed approximately 15,400 people around the globe. Bayer MaterialScience is a Bayer Group company.
About Michel Baulé:
Michel Baulé SA Group with its several entities currently has an annual turnover of close to EUR 80 million and employs 450 people. It was ranked among the top 100 high performance mid-sized privately owned companies in France for a decade. Its subsidiary Baulé is representing the core business of the group and is highly specialized in polyurethane cast elastomers. Baulé has enjoyed a steady growth since its foundation 25 years ago and has built up a strong reputation. The company has hands-on experience in polyurethane cast elastomers and is offering a unique, comprehensive range of products including systems and machines that solve problems of customers in more than 60 countries.
For more information visit: www.bayermaterialscience.de, www.bayer-baysystems.com and www.baule.com.
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