LEVERKUSEN, Germany (April 14, 2009)—Bayer MaterialScience A.G. will invest $863 million in its Coatings, Adhesives, Specialties business through to 2012, the company said during the recent European Coatings Show 2009 in Nuremberg.
Between 2009 and 2012 the company expects capital expenditures of at least $265.9 million, with a further $598.3 million earmarked for R&D, said Joachim Wolff, head of the Bayer's CAS business.
Having already opened a production plant for waterborne polyurethane dispersions in Shanghai recently, Bayer invested $26.6 million in building a polyisocyanate production line in Ankleshwar, India, in March 2009, which is expected to come online in 2011.