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Bayer Reduces Production at Its MaterialScience Unit; More Cuts Are to Come
8:47 AM MST | December 12, 2008 | Natasha Alperowicz in Leverkusen
Bayer is responding to the "considerably weaker sales and earnings" at its Bayer MaterialScience (BMS) subgroup by cutting back production in some areas with more measures to come, says Werner Wenning, Bayer chairman and CEO. Addressing the media in Leverkusen today at a 'Bayer Perspective on Innovation 2008' event, Wenning said that sales and earnings at BMS were even weaker in November than in the previous month. "We are preparing further measures next year, such as temporary shutdowns and short-time working," he says. He will announce...
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