Bayer MaterialScience has completed acquisition of the Taiwan Ure-Tech Group on July 1, 2007, consolidating its position as the world's largest supplier of TPU resins and films. The acquisition combines the strengths of Ure-Tech as a TPU market leader in Asia Pacific with Bayer's global competence. With Ure-Tech's two TPU production facilities in Asia Pacific added, Bayer MaterialScience will operate eight TPU resin and film production sites around the world. Four of them are located in Asia Pacific - in Taiwan, China, Japan and India. The others are in Europe and North America.
Post acquisition, Bayer MaterialScience intends to move the global headquarters of its Thermoplastic Polyurethanes (TPU) Business Unit to Hong Kong by October 1, 2007- this will allow Bayer to tap into and capture future growth in the world's largest and fastest expanding TPU market - Greater China. Integrating Ure-Tech substantially boosts Bayer MaterialScience's TPU market position in Asia Pacific, significantly expanding the company's market share in TPU resins in this region.
In 2006, the total global market for TPU resins and films was estimated to be worth about EUR 1.3 billion. An annual growth rate of 10% is estimated for the TPU market in Asia Pacific.
04-Jul-07 
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