Report: Bayer considering plan to sell plastics business

Published: April 28, 2014 6:00 am ET
Updated: April 28, 2014 10:46 am ET

Related to this story

Topics Materials Mergers & Acquisitions Materials Suppliers
Companies & Associations Bayer MaterialScience LLC

Bayer AG is mulling a plan to sell its plastics business, a major global supplier of polycarbonate, polyurethane and specialty plastics, according to a report from the Bloomberg news service.

The report, which quotes unnamed sources with knowledge of the matter, said Bayer “is exploring the sale” of the $10 billion Bayer MaterialScience business. If the Leverkusen, Germany, company proceeds with the plan, it would focus instead on its health business.

The Bloomberg report said Essen, Germany-based Evonik Industries AG “showed potential interest several months ago” in the Bayer MaterialScience business. But that deal fizzled, according to the report.

The story pegged a potential selling price for Bayer MaterialScience of 7.8 billion euros ($10.8 billion).

A Germany-based spokesman for Bayer MaterialScience declined to confirm or deny the reports. "As a matter of principal we do not comment on market speculation," he said.

The report of a possible sale came as Bayer announced a 79 percent rise in adjusted core profits at its BMS division during the first quarter to 366 million euros ($507.4 million).

Bayer reported total corporate sales for the quarter rose 2.8 percent to 10.6 billion euros ($14.7 billion), with earnings before interest, tax, depreciation and amortisation (Ebitda) up 11.6 percent at 2.74 billion euros ($3.8 billion).

Sister publication PRW contributed to this report.


Comments

Report: Bayer considering plan to sell plastics business

Published: April 28, 2014 6:00 am ET
Updated: April 28, 2014 10:46 am ET

Post Your Comments


Back to story


More stories

Image

US engineering plastics demand

April 20, 2015 2:29 pm ET

   More

Image

Ford moving forward in carbon fiber for 'high volume' use

April 17, 2015 10:21 am ET

Ford Motor Co. has signed a deal with a carbon-fiber manufacturer to jointly explore “high-volume” automotive uses for the lightweight...    More

Image

Force majeure declared at six European sites since mid-March

April 17, 2015 1:10 pm ET

At least six European resin makers have declared force majeure on polyethylene, polypropylene and related products since mid-March, leading to higher ...    More

Image

Executives step down from Star Thermoplastics

April 17, 2015 12:56 pm ET

Executives Randall Fortin and Larry Johnson no longer are with materials firm Star Thermoplastics Alloys & Rubbers Inc.    More

Image

Zoltek expanding CF capacity in Europe

April 17, 2015 10:12 am ET

Leading carbon fiber group Zoltek Corp. has signed a strategic agreement with the Hungarian government to expand its operation in northern Hungary, al...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

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

Upcoming Plastics News Events

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

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events