New plant for plastics component in eastern Germany
Joint venture doubles production capacity for EUR 50 million
Bayer MaterialScience AG
Hi-Bis produces a precursor for Apec® known as special bisphenols. The company brought an initial facility for these materials on stream in 2004. It was also the first Japanese investment at all in the German state of Saxony-Anhalt. The capacity expansion was made necessary by the steadily rising market demand. 17 new jobs and two trainee positions have been created.
Speaking at the inauguration ceremony, Saxony-Anhalt State Premier Dr. Reiner Haseloff said, “This latest investment is a testament to bot the positive experience that companies have had with us here in Saxony-Anhalt and the confidence that they have in Saxony-Anhalt as a business location.” The involvement of two Japanese companies underscores the extraordinary importance of foreign investment to the state's economy.
Speaking on behalf of Bayer MaterialScience, Dr. Rainer Rettig, Head of Sales for Europe and other regions, said that Apec® sales continue to grow unabated well above the rate for the entire plastics market, which is roughly five percent per year.
Bayer MaterialScience produces Apec® at its site in Antwerp, Belgium. The company holds a ten percent interest in Hi-Bis. The remaining shares are held by the Japanese conglomerate Mitsui & Co (35 percent) and its Honshu Chemical Industry subsidiary (55 percent).
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