PITTSBURGH, Feb. 6 /PRNewswire/ -- Bayer Polymers LLC announced that its
affiliate, Bayer de Mexico, has signed an agreement with Cydsa S.A. de C.V, a
Mexican corporation, to terminate its Industrias Cydsa Bayer (ICB) joint
venture.
The ICB joint venture, established in 1977, produces and markets toluene
diisocyanate (TDI) for the Mexican market. The joint venture operates a TDI
facility with a capacity of approximately 20,000 tons per year at a plant in
Coatzacoalcos, Mexico. The facility will be shut down and decommissioned.
In connection with the termination of the joint venture, and to facilitate
a smooth transition of TDI supply for customers in Mexico, Bayer will continue
to provide TDI from storage facilities within the Coatzacoalcos site for the
foreseeable future. Supplies of TDI will be sourced from Bayer's Baytown, TX,
or New Martinsville, WV, facilities. Sales and customer services will be
provided by Bayer de Mexico.
Headquartered in Pittsburgh, Bayer Corporation had sales of $10.1 billion
in 2001 and is one of Fortune magazine's Most Admired Companies. The company
employs 21,500 people. It is a member of the worldwide Bayer Group, a
$27 billion international health care and chemicals group based in Leverkusen,
Germany. Bayer's four operating companies -- CropScience, Chemicals,
HealthCare and Polymers -- produce a broad range of products that help
diagnose and treat diseases, purify water, preserve local landmarks, protect
crops, advance automobile safety and durability and improve people's lives.
This news release contains forward-looking statements based on current
assumptions and forecasts made by Bayer Group management. Various known and
unknown risks, uncertainties and other factors could lead to material
differences between the actual future results, financial situation,
development or performance of the company and the estimates given here. These
factors include those discussed in our public reports filed with the Frankfurt
Stock Exchange and with the U.S. Securities and Exchange Commission (including
our Form 20-F). The company assumes no liability whatsoever to update these
forward-looking statements or to conform them to future events or
developments.
SOURCE Bayer Polymers LLC
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Related links:
http://www.bayer.com
CONTACT:
Thomas E. Erdner of Bayer, +1-412-777-2151,
or fax: +1-412-777-3899 or thomas.erdner.b@bayer.com
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