Bayer says MaterialScience division here to stay

By Anthony Clark
PLASTICS & RUBBER WEEKLY

Published: March 1, 2013 2:05 pm ET
Updated: March 1, 2013 2:08 pm ET

Image By: Bayer AG Marijn Dekkers

Related to this story

Topics Materials
Companies & Associations Bayer MaterialScience LLC

LEVERKUSEN, GERMANY — Marijn Dekkers, chairman of Bayer AG, confirmed at the company's financial results conference that its MaterialScience division will remain part of the firm's portfolio.

He told his audience that there are efficiency programs in place that will help improve the division's overall performance and increase its profit margin.

"Sales of this subgroup rose by 3 percent compared with 2011 to 11.5 billion euros ($14.9 billion)," Dekkers said. "[Profit] before special items increased by nearly 7 percent to 1.3 billion euros ($1.68 billion). Overall, earnings at MaterialScience were hampered by the rise in raw material and energy costs, which we were unable to pass on in full to our customers."

For 2013 MaterialScience is planning a slight increase in sales on a currency- and portfolio-adjusted basis to around 12 billion euros ($15.6 billion). The division is also expected to achieve a volume-driven expansion beyond the growth rate of the global economy.

Bayer intends to implement efficiency measures to help offset commoditization of the business, the company said. Those efforts "should contribute 1.5 percentage points to the [profit] margin before special items by 2015," the company said.


Comments

Bayer says MaterialScience division here to stay

By Anthony Clark
PLASTICS & RUBBER WEEKLY

Published: March 1, 2013 2:05 pm ET
Updated: March 1, 2013 2:08 pm ET

Post Your Comments


Back to story


More stories

Image

LyondellBasell CEO Gallogly to retire

September 30, 2014 3:00 pm ET

James Gallogly, CEO of Houston-based polyolefins producer LyondellBasell Industries NV, on Sept. 29 announced plans to retire in 2015.    More

Image

New Hexcel plant will supply carbon fiber for Airbus A350 XWB

September 30, 2014 2:43 pm ET

Hexcel Corp. is investing $250 million on a new carbon fiber plant in France, with part of the production going into the future Airbus SAS A350 XWB.    More

Image

Asahi Kasei breaks ground on Alabama compounding plant

September 29, 2014 5:39 pm ET

Asahi Kasei Plastics North America will be able to solve two problems at once with a new compounding plant in Athens, Ala.    More

Image

DuPont shifting Teflon production in China

September 29, 2014 2:35 pm ET

DuPont Co. will spend more than $15 million to improve its fluoropolymer product offerings in China.    More

Image

Sale of PVC maker Oltchim still in limbo

September 29, 2014 10:25 am ET

Fresh attempts to privatize insolvent Romanian PVC producer Oltchim SA have met with new obstacles as the European Union questioned the Romanian gover...    More

Market Reports

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events