PITTSBURGH (Aug. 19)—Bayer MaterialScience L.L.C. is buying Polythane Systems Inc. of Spring, Texas, a supplier of polyurethane spray foam systems for roof insulation.
"Through the acquisition of PSI, we are gaining direct access to the commercial roofing business and to other speciality markets," said Jerry MacCleary, head of marketing and business development in Bayer´s Polyurethanes business unit in North America.
The firms released no financial details of the deal, which is to close Aug. 31.
Bayer said it will incorporate PSI's system house into its North American polyurethanes unit and take over the 31 PSI employees, as well as the company's trademarks, buildings and facilities. PSI subsidiary Everest Coatings Inc., which produces elastomeric acrylic coatings, polyurea systems, sealants and base coats, is included in the deal.