Bayer to float MaterialScience as separate business

Bayer will focus entirely on its HealthCare and CropScience businesses and float its MaterialScience business, which produces polymer materials, on the stock market as a separate company. Bayer believes this will position it 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,” Bayer CEO Dr. Marijn Dekkers announced. He said both companies have excellent prospects for success in their respective industries. Employment levels are expected to remain stable over the next few years, both globally and in Germany.In recent years, Bayer's focus has shifted toward its life science activities with the launch of novel pharmaceutical products, the pending acquisition of the over-the-counter products business of Merck & Co and the successful development of the CropScience business. The aim is to continue the positive development of these activities in the future through further investment in growth. The Life Sciences businesses currently account for about 70% of Bayer's sales.

MaterialScience will be floated on the stock market as a separate company within the next 12 to 18 months.

“We firmly believe that MaterialScience will use its separate status to deploy its existing strength even more rapidly, effectively and flexibly in the global competitive arena,” Dekkers commented.

“MaterialScience is a very well positioned business that today operates very modern, competitive, large-scale facilities. We have steadily invested in these facilities, even in difficult economic times,” Dekkers added.