United States. Chemical company Bayer MaterialScience has reached an agreement to sell its global polyester resin business and its U.S. liquid polyester resins merchant business.
The business, which will be completed on the first of June, was done with the American company Stepan Company. The terms of the agreement were not delivered.
Both Bayer MaterialScience businesses are located in Columbus, Gerogia, United States, and the 45 employees who work at those facilities will have the opportunity to work for Stepan.
"Selling allows us to focus on our core competencies. We believe we have found the perfect home for our polyester resins business in North America and look forward to seeing it further developed with a new owner," said Daniel Meyer, head of the coatings, adhesives and specialties unit at Bayer MaterialScience.
However, Bayer will retain its Desmophen ® trade name to continue selling its product portfolio to the global coatings, adhesives, sealants and elastomers industries, including liquid polyester resins in markets outside the United States.
Photo courtesy of Bayer MaterialScienc
