Bayer's plastics division posted a “record-breaking” year in 2005, thanks mainly to increased prices.
Sales at Bayer MaterialScience grew by nearly 25% to reach E10.7bn. Sales in the polyurethane business grew by 24%, while the polycarbonate division grew by 30%.
Profitability (Ebitda) surged by nearly 60% to E1.9bn.
The plastics division was the best performing division for 2005. The group as a whole reported a 17% increase in sales (to E27.3bn) and Ebitda 21% higher at E4.6bn.
Group sales expanded in all regions, especially Europe (up 22%) and Asia (up 15.5%).
“We see a major opportunity in Asian markets and plan to invest $1.8bn in world scale polymer facilities in China alone through 2009,” said Werner Wenning, chairman of the board of management of Bayer.
