Bayer MaterialScience LLC purchases polyurethane foam systems business from Stepan Company
Further extension of Bayer MaterialScience's global systems business
Bayer MaterialScience LLC, part of the global Bayer MaterialScience business, has purchased the pour-in-place, spray and molded polyurethane foam systems business of the Stepan Company in the United States, Canada, South America and Mexico. Under the terms of the deal, Bayer MaterialScience acquired the intellectual property, know-how and customer lists related to the foam systems business. Financial terms were not disclosed.
The acquisition was completed July 31, 2008 and the acquired business will be incorporated into Bayer MaterialScience LLC and under the branding of BaySystems(TM), which is the umbrella brand for the global polyurethane systems operations of Bayer MaterialScience.
The polyurethane systems acquired from Stepan Company are insulation materials used in appliances, water heaters, doors, roofs, picnic coolers and similar applications.
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