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[April 2006]
Bayer AG Announces Sale of H C Starck
The Bayer Group is planning to significantly strengthen its HealthCare business by acquisition. In line with this decision, the board of management has determined to offer for sale their subsidiary companies H.C. Starck and Wolff Walsrode.
H.C. Starck has been a valuable and appreciated addition to the Bayer MaterialScience (BMS) portfolio. "For us, the separation brings regrets, but, at the same time, we are filled with great confidence for the future of H.C. Starck", said BMS Chairman of the Board, Dr. Hagen Noerenberg, commenting on this step. "Within the last few years, we worked together intensely on a wide range of high level innovations. Regardless of the current changes, this overall positive and trustful cooperation remains a solid basis for the further development of shared projects in the future."
"H.C. Starck has a strong tradition, is now leaner and more competitive than ever and has outstanding potential for growth", emphasised H.C. Starck Managing Director, Dr. Heinz Heumueller. In 2005 sales revenue grew by 31% to 920 million euro. "We are fully committed to uphold our tradition as a solid employer for our staff, a valued business partner for our clients, and a good neighbor at our sites. Both company management and employees will ensure that the business relationships will be continued to the fullest satisfaction of all partners," he said.
Bayer said that at this point it was too early to comment on the further development and timing of the sale. In the interest of all involved parties, the next steps will be initiated as soon as possible.
H.C. Starck is an international group of companies with more than 3,400 employees at 14 production sites in Europe, North America and the Far East. It includes the well known ceramic subsidiary H.C. Starck Ceramics GmbH & Co. KG.
www.bayer.com
ENDS