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Markets :: Fine Chemicals/Biotech :: Agricultural chemicals

Bayer CropScience to Close Carbamate Insecticide Units in West Virginia

1:25 PM MST | January 11, 2011 | Nancy Seewald

Bayer CropScience says it will shut down carbamate-based insecticide production units at Institute, WV, as well as a related formulations facility at Woodbine, GA. The closures will result in the loss of about 300 jobs within the next two years. Bayer CropScience will take a charge of about $275 million due mostly to decommissioning costs. The company says the workforce reduction is part of parent company Bayer’s larger plan to eliminate 2,000 jobs worldwide by the end of 2012. Bayer announced late last year its goal of yielding annual savings of €800...

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