Bayer acquires polymer producer Sybron Chemicals.Bayer of Pittsburgh, PA, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Bayer AG Bayer AG German chemical and pharmaceutical company. Founded in 1863 by Friedrich Bayer (1825–1880), it now operates plants in more than 30 countries. Bayer has originated scores of pharmaceuticals, chemicals, and synthetic materials; it was the first developer and , Leverkusen, Germany, and Sybron Chemicals, Birmingham, NJ, a producer of polymers and specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. , announced that Bayer and its wholly owned subsidiary Project Toledo Acquisition have entered into a definitive agreement to acquire all of Sybron's outstanding shares at a price of $35 per share payable in cash. The acquisition is subject to approvals from regulatory authorities both in the U.S. and in Europe and other customary conditions. This acquisition will provide Bayer's Coatings and Colorants Business Group and Specialty Products Business Group with access to new technologies and products, and will enable them to expand their market positions in the NAFTA NAFTA in full North American Free Trade Agreement Trade pact signed by Canada, the U.S., and Mexico in 1992, which took effect in 1994. Inspired by the success of the European Community in reducing trade barriers among its members, NAFTA created the world's region. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion