Bayer has plans to transform its current organizational structure into a management holding company with independent operating subsidiaries. Merging Bayer’s rubber, plastics, polyurethanes, and its coatings and colorants business will create one of the world’s largest polymers companies, with sales of more approximately $10 billion, according to the company.
The new company will capitalize on major synergies through shared technological structures, especially in manufacturing, logistics and marketing and a common IT platform, the company said. Operations will be aligned toward markets and customer industries, such as automotive, electrical/electronics and construction.
Bayer’s basic and fine chemicals as well as specialty products business groups will also be merged to create an independent unit.
In other news, Bayer Corporation’s coatings and colorants division has announced the winners of its 2001 Agent Awards, which honors superior sales performance of inorganic pigments. Awards are given in two categories: best coatings, plastics and specialties agent and best construction agent. The winner of the best coatings, plastics and specialties agent award was Crozier Nelson of Irving, TX. The winner of the best construction agent was Palmer Suppliers Company, Cleveland, OH.