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

Contigo, Avex buy lets Newell Rubbermaid leapfrog new bottle development

July 22, 2014 4:11 pm ET

Newell Rubbermaid Inc. is ready to accelerate its move into the reusable water bottle business with the purchase of two on-the-go drinkware brands.    More

Image

DSM planning North American nylon plant

July 22, 2014 11:41 am ET

Materials firm Royal DSM NV plans to build a new nylon resin plant in North America, but no decision has been made on the plant's exact location.    More

Image

Newell Rubbermaid to acquire Contigo brand

July 21, 2014 5:00 pm ET

Consumer products company Newell Rubbermaid Inc. has signed an agreement to acquire Ignite Holdings LLC, owner of the Contigo and Avex brands of...    More

China launches investments in Belarus

July 21, 2014 10:10 am ET

China is preparing to invest in a major bottle grade PET production project planned by the Belarus PET and polyester fibers producer...    More

Image

Huhtamäki to evaluate its films business

July 21, 2014 9:52 am ET

Finland-based plastics packaging group, Huhtamäki Oyj, has announced that it is evaluating its options regarding its films business, due to its growin...    More

Market Reports

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

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

More Events