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|Mr. Patrick Thomas, CEO of Bayer MaterialScience, and Dr. Beh Swan Gin, Managing Director of the Singapore Economic Development Board, leading the official opening of the new Functional Films Centre in Singapore|
Initial investment of SGD 12 million (€ 7 million) to develop technological applications for future electronics
Key executives of Bayer MaterialScience and the Singapore Economic Development Board officially opened today the company's new Functional Films Research Centre. The full-scale facility for upstream research will focus on coated high-tech films and nanotechnology to meet the ever-evolving and growing demand of the electronics market in Asia Pacific.
The centre represents an initial investment of approximately SGD 12 million (€ 7 million) with a further provision for broadening its capabilities in subsequent years. Using self-developed material technologies, Bayer MaterialScience will pursue joint projects with collaboration partners to create advanced technological breakthroughs in electronics. These include functional films that can be applied to flexible screens and three-dimensional displays, and nanomaterials like conductive inks used in printed electronics or energy-efficient lighting technologies.
Speaking at the launch of the research centre, Mr. Patrick Thomas, CEO of Bayer MaterialScience AG (Germany) said, "The opening of this facility is a clear indication of our continued commitment to Singapore and its unique position as an economic and business hub for the Asian region. This confidence is underpinned by the fact that demand continues to grow for new and innovative film-based products. Much of the research and development for these new materials will be undertaken at this new centre. I would like to pay tribute to the government of Singapore and the Economic Development Board for its support in establishing this R&D facility."
"We are delighted that Singapore will be the location of Bayer MaterialScience's first Functional Films Research Centre outside of Germany. This reaffirms Singapore's attractiveness as a strategic base for research & development to meet the fast evolving market needs in Asia and globally," remarked Dr Beh Swan Gin, Managing Director of Singapore Economic Development Board, at the official opening.
For Bayer MaterialScience, this is the first research centre of its kind in Asia Pacific and outside Germany. "Since 2008, Functional Films of Bayer MaterialScience has been building up research resources and networks in the Asia Pacific region for customer-oriented developments, primarily in Japan, Korea and Taiwan," said Mr. Marcus Yim, Managing Director of Bayer South East Asia. "By collaborating with a network of research organisations and business partners in Singapore and the whole of Asia Pacific, we will put to use the innovative ideas to fast-track products for tomorrow's markets like automotives, electronics and displays," he continued.
The Functional Films Research Centre presently houses about 30 researchers and staff.
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 www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
About Bayer MaterialScience
With 2009 sales of EUR 7.5 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 sports and leisure industries. Bayer MaterialScience has 30 production sites around the globe and employed approximately 14,300 people at the end of 2009. Bayer MaterialScience is a Bayer Group company.
Find more information at www.bayermaterialscience.com and www.functional-films.com.
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