Bayer said on November 26 that investors are showing an interest in buying the chemicals and polymers division that it plans to create. Despite this, Bayer plan to go ahead with the flotation of the new company by 2005. The temporary name of the new structure is NewCo and it groups most of Bayer’s existing chemicals activities and parts of the polymers business, leaving the group to concentrate on healthcare, agro-chemicals and a back end chemicals operation called MaterialScience.

Werner Wenning, chief executive, has rejected suggestions that NewCo, with annual sales of around US$6.7 billion, was a dumping ground for their least profitable chemicals and polymers activities.

Source: Financial Times