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Bayer Reports Best Year Yet; Idles Polycarbonate Capacity

11:41 AM MDT | March 10, 2008 | Natasha Alperowicz in Leverkusen

Bayer says that 2007 was its most successful year yet. Net income, “boosted by proceeds from completed divestments,” more than doubled, to €4.7 billion ($6.45 billion), on sales up 12%, to €32.4 billion. Sales exceeded €32 billion for the first time in the company’s history (CW, March 3, p. 5). Operating income before special items rose 23%, to €4.3 billion. Adjusted for currency and portfolio effects, business expanded 6%, with the company’s three subgroups—Bayer HealthCare (BHC), Bayer CropScience (BCS), and...

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