04/29/2014

www.gupta-verlag.de/thermoplastic-elastomers

Bayer AG rumoured to be making headway on selling MaterialScience

[image_0]For several years, Bayer has made little secret of its intention to move out of its more traditional chemicals and plastics business, following the successful spin-off of its rubber chemicals business as Lanxess. Evonik Industries AG, based in nearby Essen, could benefit from synergies related to its existing businesses in the production of polycarbonates, speciality diisocyanates, and additives for polyurethane foam production. In Q1 trading reports, the group reported that 2013 had been another successful year, with share price increasing by 45 % during the 12 months. "2013 was another record year for Bayer,” said Management Board Chairman Dr. Marijn Dekkers at the recent Annual Stockholders' Meeting in Cologne. ”We intend to build on our competitive position as a world-class innovation company,” Dekkers remarked, adding that the company\'s mission "Bayer: Science For A Better Life” is also a promise to society. "We\'re counting on science and scientists to help make people\'s lives better,” he explained. Group sales rose in 2013 by 5.1 % on a currency- and portfolio-adjusted basis, to EUR 40.2 billion. The key factor in what was a very positive growth trend overall was the dynamic development of the group's two Life Science businesses - pharmaceutical products and CropScience. MaterialScience, on the other hand, performed below expectations. This subgroup saw earnings drop in the face of difficult market conditions. It was notable that of the group's five strategic objectives for growth over the coming year, only one related to the MaterialScience business to target on a significant improvement in profitability. Bayer MaterialScience is working both on product innovations and on new and improved production processes that consume less resources and energy. "In this way we are helping to protect the environment and creating cost advantages for our customers,” said Dekkers. Part of the reason is the global overcapacity for polycarbonates, as a result of recent investments made in the Middle East.

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