The Bayer AG board of management has approved an investment package totaling EUR 700 million.The 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 board of management has approved an investment package totaling EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 700 million, which Bayer MaterialScience AG will use to expand its capacities for key products. In addition to two major projects at the Caojing site in Shanghai, the investment package also includes expansion of production in the U.S. and refurbishment of the future group headquarters of Bayer MaterialScience in Leverkusen, Germany. The largest project in the comprehensive package involves the establishment of a world-scale production plant for diphenylmethane diisocyanate (MDI (1) (Multiple Document Interface) A Windows function that allows an application to display and lets the user work with more than one document at the same time. ) in Caojing with an annual capacity of 350,000 rot, which is scheduled to come online in 2008. Approval was also granted for expansion of the polycarbonate A category of plastic materials used to make a myriad of products, including CDs and CD-ROMs. plant currently under construction in Caojing, which will result in a total annual capacity of 200,000 rot. |
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