Bayer MaterialScience to Acquire Taiwan's Ure-Tech Group
Bayer MaterialScience will acquire Taiwan's Ure-Tech Group. According to Bayer the company will become the world's largest supplier and solutions provider of TPU resins and films with this acquisition. 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, approximately 180 employees of the Ure-Tech Group generated sales of around USD 55 million. Sales of Bayer MaterialScience's Thermoplastic Polyurethanes Business Unit were 192 million Euros last year with roughly 450 employees.
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