Bayer is acquiring the global polyols business of United States-based Lyondell Chemical for $2.45 billion in a move to strengthen its core polymers business in the long term.
PITTSBURGH – Bayer Corp., Pittsburgh, is acquiring the global polyols business of United States-based Lyondell Chemical Co., Houston, for $2.45 billion in a move to strengthen its core polymers business in the long term. As an integral part of the transaction, Bayer will acquire an equity interest in the production of propylene oxide (PO), a raw material for the manufacture of polyols. Bayer and Lyondell will also form an alliance for joint technology development and the expansion of PO production capacities.
“This acquisition fits us like a glove,” Bayer CEO Dr. Manfred Schneider said. “It reinforces our core business in polyurethanes and secures our position in the global market. It also gives us access to innovative, patent-protected technologies and products.”