Bayer Maps Spinoff Plans CEO Expects Public Offering by Mid-2016 for Plastics/materials Division Materialscience

By Gannon, Joyce | Pittsburgh Post-Gazette (Pittsburgh, PA), October 31, 2014 | Go to article overview

Bayer Maps Spinoff Plans CEO Expects Public Offering by Mid-2016 for Plastics/materials Division Materialscience


Gannon, Joyce, Pittsburgh Post-Gazette (Pittsburgh, PA)


German drug and chemical giant Bayer AG elaborated Thursday on plans to spin off its plastics and materials segment through a public stock offering by mid-2016, and its chief executive said he did not expect any buyers to pick up the business in the meantime.

"We believe the independent floating of MaterialScience is best for all stakeholders," Marijn Dekkers said in an interview with Bloomberg TV following the release of Bayer's third-quarter results. A possible sale "is not in the cards," he said.

Bayer MaterialScience - which makes plastics, chemicals and coatings used in foams, insulations, car parts, DVDs, among other products - maintains its North American headquarters at Bayer's campus along the Parkway West in Robinson. The company has about 2,200 workers in the region, including 1,200 at Robinson and 1,000 at a Bayer HealthCare business formerly known as Medrad.

Officials at Bayer's local operations declined to comment on Thursday's news.

The company in September confirmed it would separate the MaterialScience operation, following months of speculation about whether Bayer would divest the business. It did not provide any details at the time.

In conjunction with a third-quarter earnings release Thursday, Bayer said the unit will be floated on the stock market by mid-2016 "at the latest" so that it will have direct access to capital markets and be positioned to grow further as a separate, industrial company.

Bayer has made no secret of its wish to focus its energies on two other business subgroups: health care and crop sciences. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Bayer Maps Spinoff Plans CEO Expects Public Offering by Mid-2016 for Plastics/materials Division Materialscience
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.