Bayer To Acquire Polythane Systems, Inc.

Leading Supplier Of Spray Polyurethane Foam Roofing Systems

Pittsburgh - Bayer MaterialScience LLC is acquiring Polythane Systems, Inc. (PSI) of Spring, Tex., a supplier of spray polyurethane foam roofing systems in the United States, the company announced today.

The value of the acquisition, expected to be completed by August 31, was not disclosed. Bayer MaterialScience LLC will operate PSI through its wholly owned subsidiary BaySystems North America LLC, and will be retaining the PSI trade names, its 31 employees and facilities. The acquisition includes PSI's Everest Coatings, Inc., which manufactures acrylic elastomeric coatings, polyurea, sealants and primers.

PSI is currently distributing exclusively for GE Silicone's Roofing System. Over the past 35 years, the GE Roofing System as been applied in over 500 million square feet of roofing, covering commercial and institutional buildings throughout North America and the Caribbean.

Polyurethane foam in roofing systems is produced by a combination of various additives and the chemical reaction of a polyol with a polymeric isocyanate. The result is a rigid plastic that expands during curing and becomes a seamless, leak-resistant layer of closed cell insulating foam. Further protection comes from an elastomeric coating applied over the foam. Because polyurethane foam can be applied to surfaces with irregular shapes and penetrations, other applications include tanks, pipes, cold storage and flotation devices.

PSI sells to commercial contractors and original equipment manufacturers serving the commercial pipe and specialty construction industries.

"Bayer MaterialScience is a world leader in the isocyanate, polyol, elastomeric coatings, adhesives and sealants markets," said Jerry MacCleary, who heads the Polyurethanes Business Unit's North American regional marketing and business development operations for Bayer MaterialScience LLC. "The PSI acquisition will give us a significant entry into the commercial roofing business and other specialty markets, It reflects our global strategy to extend our products into new markets to meet growing customer requirements," he said.

Tom Sparks, PSI CEO said, "PSI's alliance with Bayer MaterialScience is a big step forward for PSI and its customers. It combines Bayer's excellent reputation and vast resources with PSI's technology and reputation for production and marketing know-how in creating value for customers."

SOURCE: Bayer MaterialScience