Following the takeover of Monsanto's ABS business, the Bayer group (D-51368 Leverkusen) has firmed up its position in Asia. The group said it will pay some DM 54m for a 50.5% stake in the newly formed Bayer Premier Company Ltd, which will have capacities to produce 25,000 t/y of styrene-acrylonitrile (SAN) and 46,000 t/y of acrylonitrile-butadiene-styrene (ABS). Annual sales of DM 150m are expected from export activities and business in Thailand. The SAN plant is scheduled to start up on 1 April, the ABS unit on 1 June, both in the Map Tha Phut industrial zone, Thailand. The location is seen as strategically favourable due to its geographical position and the proximity of supplier industries.

Product will be sold in Thailand through a new marketing company, Bayer Premier Sales Company Ltd, and in other countries by the Bayer organisation. At a press conference in Bangkok, chairman Dr. Manfred Schneider said the German group hopes to increase sales in Thailand to DM 500m by the year 2000, as well as expanding in the ASEAN countries and the whole of Asia. Up to the year 2000, it will invest some DM 1bn in the region, raising its contribution to sales from 17% to 25% over the next ten years. Along with Thailand, Schneider said Bayer sees "especially good opportunites" for investment in Taiwan – where a plant for polyurethanes starting material TDI is to be built – as well as Singapore and Indonesia. Bayer also has extensive investment plans for the People's Republic of China.

READER SERVICE: Bayer annual report 1995 (in English): PIE-No. 39038.