BERLIN (AP) -- Germany's Bayer AG says it plans to expand its production of plastics and high-tech materials in China -- investing some €1 billion ($1.33 billion) at a site in Shanghai.
Bayer said Thursday that its plans -- to be completed by 2016 -- will increase its focus on the Asia-Pacific region, where it "expects consistent growth in its customer industries."
The company plans to more than double its capacity to produce MDI, a raw material for polyurethanes, as well as raising production of polycarbonate and boost research and development activities.
It says it will move the headquarters of its polycarbonates unit to Shanghai from its main German site at Leverkusen to be closer to the booming Asian market.
Bayer said Thursday that its plans -- to be completed by 2016 -- will increase its focus on the Asia-Pacific region, where it "expects consistent growth in its customer industries."
The company plans to more than double its capacity to produce MDI, a raw material for polyurethanes, as well as raising production of polycarbonate and boost research and development activities.
It says it will move the headquarters of its polycarbonates unit to Shanghai from its main German site at Leverkusen to be closer to the booming Asian market.
