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Bayer may sell plastics unit to focus on health: Bloomberg [April 28, 2014] (Reuters) — German drugmaker Bayer AG is exploring the sale of its $10 billion plastics unit to focus on growing its health business, Bloomberg reported citing people with knowledge of the matter. |
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Bayer is considering the sale of its
MaterialScience division after chemicals company Evonik
Industries AG showed interest in the unit several months ago,
Bloomberg said, adding that no final decision has been made on
the plastics unit. (http://r.reuters.com/pez78v) Bayer, Germany's largest drugmaker, on Friday lowered its
outlook for its MaterialScience unit, which makes transparent
plastics used in sports goggles, DVDs and car lights, as core
earnings for the division slumped by more than a quarter. Polycarbonates, the type of transparent plastic that is Bayer's
specialty, are in ample global supply after lower-cost rivals in
the Middle East, mainly Sabic, built new sites. Bayer was not immediately available for comment outside regular
business hours. (Reporting by Arnab Sen in Bangalore; editing by Gopakumar Warrier) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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