Company Overview of Bayer MaterialScience AG
Bayer MaterialScience AG develops and produces polymers. It offers raw materials for polyurethane foams; plastic polycarbonate and precursors for paints, coatings, adhesives, and sealants; rigid foam is used to insulate buildings and refrigerators; and polycarbonate is used for CDs, eyeglass lenses, car bodies and headlights, and sports equipment, as well as for roofs and facades of buildings. The company also provides chemicals diphenylmethane diisocyanate and toluene-diisocyanate; thermoplastic polyurethanes, polycarbonate films, and special base materials for cosmetics; trimeric isocyanates that are hardeners for coating systems, as well as rubber and chlorinated rubber; chlorinated rubbe...
Key Executives for Bayer MaterialScience AG
Chief Executive Officer and Chairman of The Board of Management
Head of Human Resources, Labor Director, and Member of the Board of Management
Head of Polyurethanes Business Unit
Head of External Communications and Crisis Management
Compensation as of Fiscal Year 2014.
Bayer MaterialScience AG Key Developments
Bayer MaterialScience Appoints Glenn Kelly as Director of Government Relations
May 18 15
Bayer MaterialScience has named Glenn Kelly director of government relations. In this role, Kelly will lead the company's federal and state government relations, advocacy and policy operations in Washington, D.C. Kelly brings more than 25 years of experience in public policy, political affairs and senior congressional staff management to Bayer MaterialScience. He began his career in 1989 as a legislative assistant/staff assistant. During the next 18 years he served various legislators and organizations, and founded and operated his own public affairs consulting firm. Most recently, Kelly spent seven years as vice president of government affairs for the National Mining Association.
Bayer MaterialScience Unveils New Aliphatic isocyanate Hardener
May 15 15
Bayer MaterialScience has unveiled a new aliphatic isocyanate hardener under the name Desmodur quix 175. This raw material allows for adhesive formulations for high-performance composite films, which cure quickly at room temperature and can be safely used in food and pharma packaging. The previous storage period of up to two weeks at an elevated temperature no longer applies. The project was preceded by a precise analysis of the market and is an excellent example of customer-oriented developments, true to the slogan 'Inventing for you' of the Coatings, Adhesives, Specialties Business Unit of Bayer MaterialScience. Using Desmodur quix 175 offers benefits for the downstream process chain. Packaging manufacturers can make their production operations faster and more efficient, while also saving energy and money. This in turn helps them to improve their position in a fiercely competitive environment. The previously required storage capacity and the capital tied up as a result can now be used for other purposes, while investment in new facilities is not necessary. Special food packaging is sterilized at temperatures above 120 degrees Celsius to prevent the spread of germs and prolong product shelf life. It has to satisfy increasingly stringent safety requirements. Adhesives based on Desmodur quix 175 are demonstrably safe - an absolute necessity on this market. The needs of the food and pharmaceutical industries can be met with greater flexibility and speed. This gives brand owners the support they need to adapt to trends such as rapid design changes, smaller batches and higher throughput, thus delivering clear value-added. The new development also offers benefits to adhesive manufacturers, as they can offer their customers an innovative product. "The new materials enable faster and more flexible production and processing of high-performance laminates compared with the isophorone diisocyanate-based adhesives previously used in this sector.
MaterialScience Reports Earnings Results for the First Quarter of 2015
Apr 30 15
MaterialScience reported earnings results for the first quarter of 2015. For the quarter, as expected, sales fell in the first quarter by 2% to EUR 3.0 billion due to lower selling prices following the sharp decline in raw material price. Volumes overall were up 2%. Adjusted EBITDA rose 16% to EUR 420 million. Significantly lower raw material prices more than offset the decline in selling price. In addition, currency effects contributed approximately EUR 50 million.
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