BMS Interested in Urethane Acquisitions
Bayer's MaterialScience open to M&A: Handelsblatt
MaterialScience, Bayer's (BAYGn.DE) plastics division, which plans to list on the stock exchange soon, could consider acquisitions, especially in polyurethane-related business, its head told a German paper.
The company could be listed as early as October in an IPO potentially worth more than 10 billion euros ($11 billion), sources familiar with the plans told Reuters last month.
Patrick Thomas, MaterialScience's Chief Executive, told Handelsblatt in an interview published on Monday that the company may consider acquisitions in the area of "polyurethane-based coating raw materials or dispersions", should appropriate assets come up for sale.
In 10 years' time the company, which will be renamed Covestro from next month, will be significantly larger, he said. "But from today's point of view it will be based on the same three areas that we are active in already."
Most of MaterialScience's 11.7 billion euros in 2014 sales came from polyurethane, polycarbonate and raw materials for coatings, adhesives and sealants.
Asked whether slowing growth in China would have a negative impact on MaterialScience, Thomas said that growth had slowed but was still solid.
"In the long term we continue to see significantly higher demand for our products in China but also in regions such as India or Africa."
MaterialScience generated 28 percent of its 2014 sales from the Asia/Pacific region but does not break out revenues for China, where it has said it plans to invest 1 billion euros in additional production capacity in the next few years.
(Reporting by Christoph Steitz; Editing by Susan Fenton)
http://www.reuters.com/article/2015/08/10/us-bayer-covestro-idUSKCN0QF0NZ20150810« Previous Post Next Post »