Bayer to invest €100m in Brazil plants

23 June 2008 15:50  [Source: ICIS news]

LONDON (ICIS news)--Bayer plans to invest €100m ($156m) by the end of 2009 on upgrading its production sites in Brazil, the German chemicals major said on Monday.

 

The company said it would spend €40m on upgrading its plastics precursors and crop protection chemicals plants in Belford Roxo, near Rio de Janeiro. It also planned to spend €60m on upgrading other Bayer sites in Brazil.

 

"Brazil is our biggest market in Latin America, and we want to further expand our position in this growth region," said CEO Werner Wenning, adding that Bayer achieved sales of €1.2bn there in 2007.

 

($1 = €0.64)

By: Mark Watts
+44 20 8652 3214

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