08 May 2013 16:09 [Source: ICIS news]
LONDON (ICIS)--Bayer MaterialScience intends to bring its work on carbon nanotubes to a close as it focuses on development activities more closely linked to its core business, the Germany-based chemical business said on Wednesday.
MaterialScience is one of the three main subgroups which make up Germany-based chemicals major Bayer. The other subgroups are CropScience and HealthCare.
“We remain convinced that carbon nanotubes have huge potential,” says Patrick Thomas, CEO of Bayer MaterialScience.
“It has been found, however, that the potential areas of application that once seemed promising from a technical standpoint are currently either very fragmented or have few overlaps with the company's core products and their application spectrum,” he added.
"For Bayer MaterialScience, ground-breaking applications for the mass market relating to our own portfolio and therefore comprehensive commercialisation are not likely in the foreseeable future," Thomas said.
Bayer MaterialScience said the conclusion of the nano projects will have no impact on the company’s headcount with all 30 people employed in the sector being transferred to other positions within the group.
The segment said it will soon be determined precisely how the research results for the production and application of carbon nanotubes will be used further.
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