 |
 |
 |
||||||||
 |
|||||||||
 |
|||||||||
|
|||||||||
|
|
| Bayer stake in Bayer Sanmar 100% |
| Thermoplastic polyurethane resins manufacturer now wholly-owned |
| August 7, 2001 |
| Mumbai - Bayer Industries Private Limited (a 100% subsidiary of Bayer AG, Germany) has increased its stake from 51% to 100% in Bayer Sanmar. |
| Bayer Sanmar manufactures and markets thermoplastic polyurethane (TPU) used in a wide variety of industries, and is headquartered in Chennai in the state of Tamil Nadu. |
| Established in 1996, Bayer Sanmar was a joint venture of Bayer and the Chennai-based Sanmar Group. |
| The acquisition comes against the background of the increasing importance of thermoplastic polyurethane to Bayer as a high performance plastic resin in India as well as abroad, and the separation was on mutually acceptable and friendly basis. |
 |