PolyOne sells 50% stake in BayOne Urethane to BMS
Canadian Plastics
Economy Plastics Industry Economic Changes/ForecastPolymer supplier PolyOne Corporation has sold its 50 per cent stake in BayOne Urethane Systems LLC to Bayer MaterialScience (BMS).
Polymer supplier PolyOne Corporation has sold its 50 per cent stake in BayOne Urethane Systems LLC to Bayer MaterialScience (BMS).
The move gives BMS full control of the polyurethane specialties provider.
The financial terms of the deal were not disclosed.
BayOne, headquartered in St. Louis, Mo., was a 50:50 joint venture between BMS and PolyOne to market polyurethane specialties in Canada and the U.S. The company, which has 33 employees, focuses on urethane systems development and service in application areas such as footwear, rigid foams and flexible molded foams.
“Acquiring the remaining 50 percent of BayOne will enable [BMS] to continue its focus on sustainable growth in the polyurethane specialties business in the NAFTA region,” said Peter Vanacker, head of the BMS’ polyurethanes business unit and member of the company’s executive committee.
