Bayer MaterialScience on Thursday said it plans to acquire the North American polycarbonate sheet business of Arkema, which includes the companys Tuffak line of products used in such markets as aerospace, transportation and heavy equipment.
Financial terms of the acquisition were not disclosed.
In addition to the Tuffak line of sheet products, the acquisition includes production equipment that will be transferred to Bayer MaterialSciences sheet business in the NAFTA region, the company said.
In an effort to provide customers with a smooth transition, Arkema will continue to produce the products for several months through a tolling agreement with Bayer MaterialScience, officials said.
The addition of the well-known Tuffak business will further strengthen our quality leadership position in the growing North American polycarbonate sheet market, said Thomas Karl Kastner, global head of Bayer MaterialSciences sheet business.
We plan to quickly integrate the Arkema sheet business into our portfolio in order to provide our customers with an enhanced portfolio of industry-leading polycarbonate sheet products, Mr. Kastner continued.
This acquisition will support our strategic initiative to establish polycarbonate sheet as the product of choice in the security glazing, mass transportation and signage markets.
Bayer MaterialScience continues to expand its polycarbonate sheet portfolio through focused development efforts, said Dennis Duff, managing director of Bayer MaterialSciences sheet business in the NAFTA region.
With access to some of the world's leading experts in polymer technology and applications, our market-driven innovations have positioned this segment for sustainable future growth, Mr. Duff added.