Bayer CEO dismisses MaterialScience sale suggestions

26 February 2010 14:01  [Source: ICIS news]

LEVERKUSEN, Germany (ICIS news)--Bayer's CEO Werner Wenning dismissed questions on Friday regarding a possible sale of the German major's MaterialScience (BMS) business.

Speaking at the company's financial news conference, Wenning said he would not speculate on the future of a business that remained a key part of Bayer.

"To make sure that there are no speculations here at all, BMS is part of our core business. Full stop. We cannot speculate about what will happen in one, two or five years' time," he said.

"Every business must be assessed against the background of the challenges and its sustainability. This is a key task of our portfolio management. BMS is part of our core."

Marijn Dekkers - who succeeds Wenning in October - has been a member of the management board since January, serving as Bayer Healthcare CEO during the transition. He said he had visited Bayer MaterialScience for the first time on Monday and thought it well positioned and highly competitive.

"My aim is simply to make sure that Bayer can be further developed at a very high level, as has been the case over the last eight years. I haven't come here with a view  to examine anything," added Dekkers.

Last November, ICIS news reported suggestions that Bayer MaterialScience was a possible acquisition target for Abu Dhabi-based International Petroleum Investment Company (IPIC).

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By: Andy Brice
+44 20 8652 3214

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