New Marketing Synergies Initiative Established
PITTSBURGH, Oct. 27 /PRNewswire/ -- Bayer Corporation announced today that
it is realigning its chemicals and polymers businesses on January 1, 1999, to
sharpen the focus on U.S. customers and enhance overall performance by
creating three new divisions in this area.
Bayer will expand its commitment to the plastics and polyurethanes markets
by splitting these businesses out of its existing Polymers Division and
forming two new divisions: the Plastics Division and the Polyurethanes
Division. The company has become a market leader in these areas and is poised
for further growth spurred by $1 billion in investment in manufacturing
capacity at its site in Baytown, Texas.
"Establishing separate divisions for plastics and polyurethanes is an
important strategic step to maximize the projected growth for these
businesses," said Helge H. Wehmeier, President and Chief Executive Officer of
Bayer Corporation. "The recent investment in manufacturing capacities in
Baytown is the largest single investment in the Bayer Group's history, which
attests to our commitment to these markets."
The new Plastics Division will manufacture and market Bayer's
thermoplastics resins and specialty plastics for a broad range of
applications, as well as have responsibility for thermoplastic polyurethane
films. Nicholas T. Cullen, currently head of the Performance Products
Division, will head this new division as of January 1, 1999.
The new Polyurethanes Division will manufacture and market raw materials
and processing equipment for structural engineering polymers and foams for the
automotive, appliance, construction and furniture industries. Hans-Joachim
Kogelnik, Ph.D., currently responsible at Bayer's parent company in
Leverkusen, Germany, for the global business of Polyurethane specialties and
the PU-Polyol Coordination, will head this new division as of May 1, 1999.
Also on May 1, 1999, H. Lee Noble, Executive Vice President and President,
Polymers Division, will retire after more than 22 years with Bayer. Lee
joined the company in 1977 as Director of Corporate Planning and held a number
of senior management positions. Bayer named him to his current position on
January 1, 1992. Under his leadership the business grew from less than
$1 billion in sales to almost $2 billion.
The company will form a third new division at the beginning of next year:
the Coatings and Colorants Division. John L. Williams, Ph.D., currently
Senior Vice President, Marketing, Coatings Business Unit in the Performance
Products Division, will head this division as of January 1, 1999. This
division will bring together the company's coatings, colorants and adhesives
businesses that are currently housed in other divisions. This will allow the
customers to purchase coatings and adhesives raw materials, inorganic
pigments, and organic pigments from one Bayer business unit.
Williams will also head up a new initiative called Market Synergies. With
this effort, Bayer will further accelerate and focus on business processes to
serve the customer better and to maximize the customer potential for Bayer
across all product lines. Pursuing market synergies will also help the
company draw dividends from its major investment in R/3 software from SAP and
the accompanying business process reengineering efforts.
Bayer Corporation is a research-based company with major businesses in
health care and life sciences, chemicals and imaging technologies. The
company had 1997 sales of $9.3 billion and employs 26,000 people. 1998
capital investment and R&D expenditures are projected to total $1.7 billion.
Bayer Corporation, with headquarters in Pittsburgh, is a member of the
worldwide Bayer Group, a $32 billion chemicals and pharmaceutical company
based in Leverkusen, Germany.
Web site: http://www.bayerus.com
SOURCE Bayer Corporation
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