Bayer Posts its Best Annual Results, But Idles PC Plants

Bayer posted a 58% increase in fourth-quarter 2008 net profits, to €106 million ($135 million) on sales down 1.5%, to €7.9 billion. “Our corporate strategy is proving effective even in a difficult environment,” said Bayer chairman Werner Wenning at the company’s annual results presentation, held last week in Leverkusen. However, the Bayer MaterialScience (BMS) business posted an operating loss for the fourth quarter, undermining stronger performances at Bayer HealthCare and Bayer CropScience. Full-year group Ebitda before special items...

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