Bayer AG. (Acquisitions, Expansions).

Germany's Bayer AG has kicked off a massive China expansion plan with a joint venture deal to build a $450 million Shanghai polycarbonate plant. Bayer said the joint venture with Chlor Alkali marked the first step in the German firm's $3.1 billion investment plan to set up a chemical complex in the eastern Chinese city. Under the deal, Bayer would provide 90% of the capital and control that percentage of the venture, called Bayer Polymer Shanghai. Chlor Alkali would hold a 10% stake.