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Bayer raises outlook with recovering plastics industry

May 04/2010

(adsalecprj) -- Bayer AG raised its 2010 earnings growth forecast as demand for plastics offset a slowdown in crop chemicals and lower sales of medicines.



Bayer expects more than 15% growth in core earnings per share, compared with an earlier forecast of 10%. Net income increased to 693 million euros (US$916.7 million) from 425 million euros a year earlier.



Sales at the MaterialScience plastics unit climbed 36% to 2.22 billion euros as demand from the automotive and manufacturing industries helped Bayer emerge from the chemicals-industry slump that had followed the global economic downturn, the company said.



On the other hand, the company lowered its sales forecast for the drug unit after revenue from the Yaz family of birth-control pills, Bayer's top-selling prescription medicines, dropped 10%.

 

mrcplast.com

Bayer raises outlook with recovering plastics industry

MRC Reference

 

 

The share in the Russian market in 2008:
 PS - 0.7% (ABS - 7.2%).

 

Annual sales growth in Russia over the last 5 years:
 PS - (-10%).

 

Polymers processing technologies:
 injection molding.

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