Bayer to cut 12000 jobs; exit animal health business


Bayer to cut 12000 jobs; exit animal health business

Bayer plans to exit animal health business, consumer health brands Coppertone and Dr Scholl’s, and cut 12,000 jobs worldwide. The company also plans to sell its 60 percent interest in Currenta, a JV with Lanxess. The company aims to strengthen its core life science businesses following the takeover of Monsanto. The job cuts are expected to be complete by the end of 2021 and a significant number of them is in Germany, the company said. The job cuts will include approximately 900 jobs in pharmaceuticals R&D and around 350 positions in connection with the factor VIII facility in Wuppertal; roughly 1,100 jobs associated with the reorganization at consumer health; around 4,100 positions at crop science as the result of combining Monsanto; and a further 5,500 to 6,000 jobs in the corporate functions. Read More

Covestro has increased its stake in the joint venture DIC Covestro Polymer Ltd (DCP) from 50 percent to 80 percent.  The investment is part of Covestro’s expansion of its global thermoplastic polyurethanes (TPU) business. The total investment sums up to a low double-digit million euro. Closing of the deal is planned for early second quarter of 2019. DIC Corporation (DIC) will continue to support the success of DCP with its industry network, strong brand name, and as a reliable local partner. “The strong and long-term partnership of both companies, as well as our thorough understanding of the future growth potential make this acquisition a fitting step in Covestro’s growth strategy focusing on sustainability-driven innovation,” said Dr Markus Steilemann, CEO of Covestro. Read More

MFG Chemical said that it is upgrading its Pasadena, Texas plant, which the company acquired in March 2018. The acquisition of the Pasadena plant, together with the company’s 3 plants in Northwest Georgia, makes MFG Chemical one of America’s largest consumers of maleic anhydride. Improvements include debottlenecking and new capacity additions, including two new reactors, one of which is 20,000 gallons in size. “MFG is increasing its capacity to meet its customers’ growing needs for custom and speciality chemistries. Our significant capital investments in our Pasadena, TX,  plant as well as our three other world-class ISO 9001:2015 Certified manufacturing plants in Dalton, GA reflect our ongoing effort to deepen our manufacturing and formulating partnerships with our valued customers,” said Keith Arnold, CEO of MFG Chemical and Member of the SOCMA Board of Governors. Read More

Clariant has increased capacity of ethylene oxide (EO) unit in Gendorf, Germany. The investment positions Clariant to continue its successful development of innovative EO-based specialties to support a wide range of industries, such as personal and home care, crop solutions, and industrial applications. “As a globally leading company for specialty chemicals, Clariant continues to invest also in our production network in Europe. I am confident that this sizeable expansion will support our strategic goal of intensifying profitable growth in both developed and emerging markets,” said Christian Kohlpaintner, member of Clariant’s Executive Committee. Read More

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