Bayer establishes a start-up company for the production of electroluminescent films
- Bayer MaterialScience increases focus on innovative businesses
- EUR 24.5 million investment volume / Over 150 employees planned by 2012
Friday - April 7, 2006, Leverkusen – Bayer has established a start-up company for the production of electroluminescent films. The volume of investment in LYTTRON Technology GmbH, a wholly-owned subsidiary of the Bayer MaterialScience AG subgroup, is around EUR 24.5 million.
“Bayer MaterialScience is one of the world’s leading manufacturers of high-tech materials. We see ourselves as a technology driver, developing innovative materials for our customers,” said Ian Paterson, Management Board member responsible for Innovation and Marketing at Bayer MaterialScience AG. “For example, in recent months we have created structures for rapidly transforming ideas into marketable products and applications that were not previously part of our core business. Now the first promising project has given rise to a separate start-up company.” Paterson described the foundation of LYTTRON Technology GmbH as a logical step in the implementation of the company’s innovation strategy.
Engineers at the new Bayer subsidiary are looking at applications for an electroluminescent film that lights up when an electric current is applied. Previously this has only been possible for flat surfaces, but the technology used at LYTTRON now enables the films to be molded into any shape, opening up endless design possibilities.
The first series production of the special film was for illuminating the inside of ladies’ handbags. “The little light in the bag caused a sensation worldwide – we were inundated with inquiries from companies from a range of industries around the world,” said LYTTRON CEO Thilo-J. Werners.
Werners is optimistic that LYTTRON will be a success: “Concrete projects with a range of clients have already been running for some time. We also know that the markets are eagerly waiting for this innovative product.” Electroluminescent lights create full-surface light without generating heat, and at the same time offer a high degree of design freedom. Werners continued, “We are targeting the automotive industry as one of the largest markets, one key potential area being the interior lighting of glove compartments. We are also interested in the wide range of manufacturers of lifestyle goods such as cell phones.”
Development, production, marketing and administration will be set up at the Leverkusen site over the coming months. According to the current plan, LYTTRON will employ up to 150 employees by 2012.
More news and information about products, applications and services of Bayer MaterialScience can be found at www.bayerbms.com.
This news release contains forward-looking statements based on current assumptions and forecasts made by Bayer Group 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 our public reports filed with the Frankfurt Stock Exchange and with the U.S. Securities and Exchange Commission (including our Form 20-F). The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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