BAYER MATERIALSCIENCE PURCHASES POLYURETHANE FOAM SYSTEMS BUSINESS FROM STEPAN CO.

Bayer MaterialScience LLC, part of the global Bayer MaterialScience business, has purchased the pour-in-place, spray and molded polyurethane foam systems business of the Stepan Co. in the U.S., Canada, South America, and Mexico. Under the terms of the deal, Bayer MaterialScience acquired the intellectual property, know-how and customer lists related to the foam systems business. Financial terms were not disclosed.

The acquisition was completed on July 31, 2008, and the acquired business will be incorporated into Bayer MaterialScience LLC under the branding of BaySystems

^TM, which is the umbrella brand for the global polyurethane systems operations of Bayer MaterialScience.

The polyurethane systems acquired from Stepan Co. are insulation materials used in appliances, water heaters, doors, roofs, picnic coolers and similar applications.

“This acquisition reinforces our global systems business and strengthens the breadth and depth of BaySystems’ already significant portfolio,” said Jerry MacCleary, senior vice president, head of polyurethanes North America marketing and business development, Bayer MaterialScience LLC. “We constantly strive to better serve our customers and markets, and this acquisition, which provides us with access to innovative, proprietary technologies, does just that.”

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