Bayer to build chemical base in Shanghai

German chemical company Bayer will invest about DEM 7 billion to set up a chemical base in Shanghai. The base will be used to make products for the Asian markets, the German company said. It will invest some DEM 1 billion marks to build a production plant to produce synthetic materials. It has formed a joint venture with the Shanghai company Chlor Alkali Chemicals Co. to co-produce the materials.