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

PP prices rise, solid PS, PET drop

October 30, 2014 1:15 pm ET

North American polypropylene resin prices surged again in October, while regional prices for solid polystyrene and PET bottle resin continued their...    More

Image

Italian compounder opening first US plant

October 30, 2014 9:45 am ET

The song of the South has led Italian compounder So.F.Ter Group to open its first plant in the United States in Lebanon, Tenn.    More

Image

Xten may shut down, working on sale to Commercial Plastics

October 29, 2014 5:49 pm ET

Xten Industries LLC is working on a sale to Commercial Plastics Co. of Mundelein, Ill. Xten, an injection molder based in Kenosha, Wis., filed a...    More

Image

Ineos closing Barex plant, exiting business

October 29, 2014 3:58 pm ET

Materials maker Ineos Group is closing its only global Barex-brand polyacrylonitrile (PAN) resin plant in Lima, Ohio. Ineos – based in Rolle,...    More

Image

DSM picks Augusta, Ga., for nylon plant

October 29, 2014 11:49 am ET

Materials firm Royal DSM NV has chosen Augusta, Ga., as the site of its new North American nylon resin plant.    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

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 analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

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

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events