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Bayer MaterialScience Dismisses Abu Dhabi Claim; Sees Strong Recovery

3:44 PM MST | March 15, 2010 | Natasha Alperowicz in Leverkusen

Bayer MaterialScience (BMS) dismisses recent press reports that it is to be bought by International Petroleum Investment Co. (IPIC; Abu Dhabi). BMS is, however, in discussions with IPIC to source raw materials from IPIC’s proposed Chemaweyaat petrochemicals complex in Abu Dhabi, Patrick Thomas, chairman of BMS, tells CW. Thomas was speaking on the sidelines of Bayer’s annual results presentation, held recently in Leverkusen. “Everybody who uses aromatics has talked to these guys…they have the mother of all aromatics units planned,”...

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