Germany’s Bayer aims to strengthen lead in high-tech materials

14 March 2012 10:09  [Source: ICIS news]

SINGAPORE (ICIS)--Germany’s Bayer said on Wednesday it aims to achieve volume gains in its material science segment that are “in excess of the rate of global GDP growth” and strengthen its lead in the high-tech materials market.

Bayer said in a statement that it intends to further improve its market share of global toluene di-isocyanate (TDI) production to 24% in the “medium term”, from 23% in 2011.

In addition, it plans to defend its position as the global market leader for methyl di-p-phenylene isocyanate (MDI) and polycarbonate (PC) by expanding their fields of application in the automotive and construction industries, it said.

The group is targeting for 2014 sales figures of Bayer HealthCare and Bayer CropScience to reach around €20bn ($26.3bn) and €8bn respectively, it added.

The Bayer Group also aims to increase sales of its pharmaceuticals segment to €11.5bn by 2014, compared with €9.9bn in 2011.

“I am optimistic about Bayer’s medium-term development overall,” said Bayer Group CEO Marijn Dekkers.

Earlier this week, global analysts Bernstein Research forecast a weak first quarter for Bayer MaterialScience because of continually tightening margins in January.

Bayer’s net profit for 2011 grew by 89.9% year on year to €2.5bn, while sales rose by 4.1% to €36.5bn.

($1 = €0.76)

By: Samuel Wong

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