Bayer MaterialScience has announced that with effect from August 1, 2008, the company had raised its sales prices for polymeric and monomeric methylene diphenyl diisocyanate (MDI) and MDI derivatives in the Europe, Middle East and Africa (EMEA) region. The price for MDI will increase by EUR 0.10 per kilogram.
The reason for the price rise is the continuing increase of energy and raw material costs. Contractual obligations in existence at the time, when the price increase comes into effect are not affected.
With 2007 sales of 10.4 billion euros, 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 2007, Bayer MaterialScience had 30 production sites and employed approximately 15,400 people around the globe. Bayer MaterialScience is a Bayer Group company.