Bayer reports higher earnings in Brazil
The Bayer Group in Brazil increased sales in 2000 by 8.4 percent to US$ 739 million, from US$ 682 million in 1999. The fastest-growing segment was polymers, with business up 22 percent to US$ 270 million from US$ 221 million the previous year. The second largest increase came from the Chemicals segment, which posted a 17 percent gain to US$ 104 million compared with the 1999 figure of US$ 89 million. The operating result improved by 45.4 percent to US$ 28.5 million from US$ 19.6 million the prior year.
"We began the new millennium with a substantial sales gain in U.S. dollars and plan to achieve further growth in the current year," said Helge Karsten Reimelt, President of Bayer S.A., São Paulo and Bayer Country Head in Brazil, at the company's Annual News Conference in São Paulo on May 17, 2001. Exports rose by 16 percent last year and are expected to increase by another 10 percent in 2001. The Coatings and Colorants Business Group recorded the strongest export growth of 78 percent.
The acquisition of the global polyols business of the U.S. company Lyondell boosted Bayer's business in Brazil by US$ 27 million in 2000. In the current year, Bayer is continuing to expand its production facilities for polyurethane raw materials and iron oxides. There are also plans to enlarge the solids plant of the Animal Health Business Group at the Belford Roxo site. The company's total capital spending budget for 2001 amounts to US$ 26.4 million.
Bayer employs nearly 2,600 people in Brazil. The Bayer Group in Brazil comprises Bayer S.A. and Haarmann & Reimer Ltda.
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