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Focus on new polycarbonate applications for Korean companies: -- Bayer opens Polymer Development Center in South Korea -- Further strengthening presence in Asia Pacific(M2 PressWIRE Via Acquire Media NewsEdge) Seoul -- Bayer MaterialScience, a subgroup of the Bayer Group and world leading materials provider, has officially opened its first Polymer Development & Technology Center in South Korea. Located in the city of Yongin near the capital Seoul, it will focus on the development of new polycarbonate applications for high-tech products from Korean companies especially in the automotive and IT sectors. The new tech center adds to a network of research and development hubs around the globe and major production sites in Asia Pacific. "Over the past decade, Korea has emerged as a center for cutting-edge high-tech products," said Michael Koenig, Executive Committee Member of Bayer MaterialScience and Head of the Polycarbonate Business Unit. "Large Korean companies are offering their latest technology worldwide, but their development and research mainly happens in Korea. With our new tech center we can be closer to them, better engage in long-term R&D partnerships and fulfill their needs with greater efficiency and speed." Koenig believes that the center will become a driving force in the further development of innovative products in Korea. Bayer strategically selected Yongin as a location given its proximity to other R&D centers and manufacturing facilities of many of Korea's global companies. Starting with the opening, the center will provide technical advisory for Korean customers regarding polycarbonate applications in high-tech segments such as automotive or IT products (e.g. smart phones, laptops, TV stations etc.). From the third quarter of 2013, it will develop new applications product concepts with major Korean companies through collaborations as well as sample production and testing in the context of customer advisory. The opening of the center reflects Bayer's ongoing commitment to enhancing its presence in Asia Pacific to offer local customers better access to the company's know-how, expertise and advanced application technology. The tech center is part of a global network R&D and application development centers, including the main regional innovation hubs in Pittsburgh (USA), Leverkusen (Germany), and Shanghai (China) from which further expertise can be drawn. Additionally, the new center will be supported by a strong network of production sites in Asia Pacific with major production sites in Shanghai, Map Ta Phut (Thailand), and Niihama (Japan). The region makes up 60% of worldwide polycarbonate demand. About Bayer MaterialScience: With 2011 sales of EUR 10.8 billion, Bayer MaterialScience is among the world's largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction and the sports and leisure industries. At the end of 2011, Bayer MaterialScience had 30 production sites and employed approximately 14,800 people around the globe. Bayer MaterialScience is a Bayer Group company. This news release is available for download from the Bayer MaterialScience press server at . Find more information at . Forward-Looking Statements This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website at . The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. ((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to [email protected])). (c) 2013 M2 COMMUNICATIONS |