To make this possible the German company made its largest invested outside Germany, totaling 2.1 billion euros ($2.88 billion).
According to Bayer the state-of-the-art facility focuses on innovations in the use of high-performance plastics, foams and coatings in such key sectors as mobility, construction, IT and renewable energy. The expansion has resulted in the fact that the facility now functions as the most important innovation center for the entire Asia-Pacific region. The center will provide support to R&D facilities in South Korea, India, Japan, and Taiwan.
Moreover, the regional hub will become a significant contributor to Bayer’s overall global innovation network by exporting China-developed technology to the rest of the world by 2020, according to the company.