Apr 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.
Posted April 22nd,2008