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Bayer Material Science to be Recognized by Commercial Development & Marketing Association

Submitted by: Bayer

Categories: Ratings & Awards, Corporate Social Responsibility

Posted: Aug 30, 2007 – 10:50 AM EST

 

Greg Babe to Receive the Lee W. Rivers Innovation Award on Behalf of Bayer MaterialScience for Leadership in Innovation Practice and Performance

PITTSBURGH, PA - August 29, 2007 - The Commercial Development & Marketing Association (CDMA) will present its Lee W. Rivers Innovation Award to Bayer MaterialScience LLC and its CEO Greg Babe for industry leadership in driving innovative solutions and bringing them to commercial fruition. The award will be presented at the CDMA's Fall National Meeting, Tuesday, September 25, 2007, at the Omni William Penn Hotel in Pittsburgh, Pa.

The Lee W. Rivers Innovation Award recognizes outstanding achievements in the development of innovative products and solutions in chemical technology based industries.

"Greg Babe is leading a company whose innovations are not only creating long-term revenue potential but are also improving the quality of life for people around the world without harming the environment in which they live," said Nancy Easterbrook, CDMA Award Chair.

Bayer MaterialScience maintains a driving focus on innovation. Rooted in a strong foundation of innovation culture, process and organization, the result is a stellar record of achievement in the market. Technology and materials coming out of Bayer MaterialScience are found in countless products ranging from sports equipment to medical devices.

The focus of the CDMA Fall National meeting is Leveraging Sustainability, and Bayer MaterialScience is a leader in showing how sustainable development is both a profitable growth platform, as well as being the directive of high values and priorities. By 2010, BMS materials will be used in new areas such as green buildings and alternative energy, as well as smart coatings, intelligent surfaces, sensors and LED technology.

Sustainable development offers numerous opportunities for materials suppliers, like Bayer MaterialScience, that are positioned to provide innovative products and services to the green energy market. The company is focused on developing applications based on sustainability in three key areas: automotive, construction and alternative energy.

One example is in the area of photovoltaic (solar) power. According to Babe, the U.S. demand for photovoltaics (PV) is expected to triple from 2005 levels by 2010, and BMS intends to stay at the cusp of the alternative energy movement by working with its external partners to advance technologies related to PV and other ways to conserve energy and reduce the nation’s dependence on fossil fuels.

"Sustainable development has long been an integral part of our business processes, and we continually seek ways to integrate economic, ecological and social interests into our corporate decisions. It is a key driver for our innovation at Bayer MaterialScience," said Babe. "On behalf of all the employees at Bayer MaterialScience, we are honored to be recognized for our efforts with this award."

About CDMA

CDMA is the world's leading professional association dedicated to fostering, promoting and sharing of business practices for long term growth and value creation in chemistry-based industries. For over 60 years, CDMA has been dedicated to continuous learning and networking to help members grow their businesses. For more information about CDMA, visit our Web site at www.cdmaonline.org.

About Bayer MaterialScience LLC

Bayer MaterialScience LLC is one of the leading producers of polymers and high-performance plastics in North America and is part of the global Bayer MaterialScience business with nearly 14,900 employees at 30 sites around the world and 2006 sales of 10.2 billion euros from continuing operations. Our innovative developments in coatings, adhesive and sealant raw materials, polycarbonates, polyurethanes and thermoplastic urethane elastomers enhance the design and functionality of products in a wide variety of markets, including the automotive, construction, electrical and electronics, household and medical industries, and the sports and leisure fields. Our inorganic basic chemicals unit produces chlorine and related essential products for the chemicals industry. Let us give life to your vision. Bayer MaterialScience - Where VisionWorks.

Bayer Corporation, headquartered in Pittsburgh, is a subsidiary of Bayer AG, an international health care, nutrition and innovative materials group based in Leverkusen, Germany. In North America, Bayer had 2006 net sales of 7.8 billion euros and employed 17,200 at year end. Bayer's three subgroups, Bayer HealthCare, Bayer CropScience and Bayer MaterialScience, improve people's lives through a broad range of essential products that help diagnose, prevent and treat diseases; protect crops and enhance yields; and advance automobile safety and durability. Bayer AG stock is a component of the DAX and is listed on the New York Stock Exchange (ticker symbol: BAY).

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.

For more information, please contact:

Lauretta Galbraith
Phone: (412) 777-5200

For more from this organization:

Bayer

 

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