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Bayer MaterialScience to cut costs, downsize operations

7:43 AM MDT | September 20, 2013

Bayer MaterialScience (BMS), a leading producer of polycarbonate and polyurethanes, is seeking to cut costs to counter overcapacity in the industry. The company says its management is in talks with employee representatives to clarify how these measures can be implemented. BMS says that market conditions have changed partly because of new competitors entering the industry, the ongoing financial crisis in Europe, and the economic slowdown in Asia. “In order to remain competitive, [BMS] must continue to work on its cost situation. That includes adjusting the size...

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