Bayer Tops $10 Billion as Sales Climb 13 Percent
“Our cost-savings efforts and our capital-investment program paid strong dividends in 2000, helping us increase sales and remain profitable despite rising energy and raw-material costs,” said President and CEO Helge H. Wehmeier. “Bayer is also harnessing e-commerce to lower its procurement costs, streamline order processing and customer service, and better manage its customer relationships.”
Approximately half of the $1.2 billion sales increase was due to acquisitions, primarily the acquisition of Lyondell’s polyol business in early 2000, which gave Bayer a market-leading position in polyurethane chemicals. Bayer has spent $4 billion on acquisitions since 1998, boosting both its health care and chemicals sectors.
Headquartered in Pittsburgh, Bayer Corp. is a member of the worldwide Bayer Group, a $29 billion international life sciences, polymers and specialty chemicals group based in Leverkusen, Germany. For more information, visit www.bayer.com.