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Bayer says goodbye to plastics
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BusinessGermany

Bayer says goodbye to plastics

19.09.2014 - In order to concentrate on the life science business, German industry giant Bayer is splitting off its plastics subgroup as a separate company.

In future, Bayer intends to only do business in the fields of human, animal and plant health. To achieve this, the Leverkusen-based company intends to float the material science business on the stock market as a separate company by 2016. The life sciences already account for about 70% of Bayer’s sales, and over the last few years the material science business has been pushed more and more into the background.

The company’s management board is now repositioning itself accordingly. “Our intention is to create two top global corporations: Bayer as a world-class innovation company in the Life Science businesses, and MaterialScience as a leading player in polymers,” CEO Marijn Dekkers announced. He said both companies have excellent prospects for success in their respective industries. “Bayer will continue as an enterprise with an attractive and balanced portfolio and a primary focus on organic growth,” Dekkers explained. To this end, the company intends to raise its R&D spending and selectively strengthen early research at the interface between Healthcare and CropScience. Bayer also wants to continue driving the successful commercialisation of the newly launched pharmaceutical products, such as anticoagulant Xarelto, eye medicine Eylea and cancer drug Xofigo. From these pharmaceutical products, Bayer expects to make combined peak annual sales of at least €7.5bn.


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No liability assumed, Date: 19.09.2014