22 September 2014

Bayer plans to focus entirely on Life Science businesses

Bayer announced last week it intends to focus entirely on the Life Science business - HealthCare and CropScience - and float MaterialScience on the stock market as a separate company. This move will position Bayer as a world-leading company in the field of human, animal and plant health. 

"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," said Bayer CEO Dr. Marijn Dekkers. He added that both companies have excellent prospects for success in their respective industries. 

The plan was unanimously approved by the Supervisory Board 18 September. It is expected that Bayer's MaterialScience business will be floated on the stock market by 2016 at the latest. Planned separation will benefit both Bayer and MaterialScience. The companies of the future Bayer Group had pro forma sales of approximately EUR 29 billion in 2013. they will employ nearly 99,000 people. Corporate headquarters will remain in Leverkusen. 

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