Bayer to invest $1.3b to expand China business

Germany’s Bayer MaterialScience, a unit of chemical and pharmaceutical firm Bayer (BAYN.FWB, 4863.TYO), will spend US$1.3 billion over the next five years growing its high-tech materials business in China, AFP reported. The investment will be focused on adding to Bayer’s existing operations in Shanghai through five distinct projects. It will also move the headquarters of its polycarbonates business to Shanghai from Leverkusen in Germany and expand its research and development center for polymers there. Polycarbonates are a type of plastic commonly used in automobiles, electronics and construction.