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BIGGEST-EVER SALES RISE, BUT POLYMERS STILL WORRY BAYER.
High Performance Plastics, May, 1998 by MURPHY, JOHN
Despite its biggest-ever rise in sales last year, to a turnover of DM 55 billion and well ahead of the forecast made last autumn, Bayer remains worried about pricing levels in the polymer sector, and particularly the progress of its ABS business, which was considerably increased by the purchase of Monsanto's interests in 1995.
Reporting pre-tax profits up 14% to DM 5.1 billion, on sales increased by 13% to DM 55 billion (up 7% in volume and 8% in exchange rate values), Chairman Dr Manfred Schneider said that the group had never before witnessed such a large year-on-year increase in business. Sales in the polymer group were up 11% to 20%, but operating profits did not keep pace due to pricing levels, giving a profit of DM 1.54 billion, for the division, against...
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