Bayer to keep fibers business

BAYER TO KEEP FIBERS BUSINESS

Bayer Faser GmbH is to remain part of the Leverkusen-based health care and chemicals group for the foreseeable future. Explaining the decision, Bayer said that in the current business environment, continuing the business offers better prospects for success than a divestment. The market is not prepared to pay an appropriate price for this business at the moment. The priority is therefore to boost the value of Bayer Faser GmbH through intensive efforts to improve profitability.

Bayer Faser's main product is the renowned Dorlastan® spandex fiber, used particularly in intimate apparel and swimwear. In 2001 the Bayer Faser group had sales of EUR 232 million. It employs a total of 952 people at its three sites in Dormagen and Goch, Germany, and Bushy Park, South Carolina.
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Contact:
Hans Graf von Hochberg
Bayer AG
KB UK, Gebäude W 1
D-51368 Leverkusen
Phone: ++49 (0)214 30-82895
Fax: ++49 (0) 214 30-55157
E-mail: hans.hochberg.hh@bayer-ag.de