Bayer sees continuation in growth in 2011 despite challenging economic conditions

02-Mar-12

Bayer has reported increased annual sales in North America led by gains in the company's CropScience and MaterialScience subgroups. Total sales in the region (US and Canada) were EUR 8177 mln (US$11366 mln), an increase of 3.6% compared with full-year 2010 sales. North American sales represented nearly one quarter of Bayer's global sales of EUR 36528 mln, maintaining North America's position as the second largest region for Bayer after Europe. Annual sales within the United States advanced by 3.2% to US$9791 mln compared to US$9486 mln for the full-year 2010. "2011 was another solid year for Bayer in North America, despite continued economic challenges," said Greg Babe, President and CEO of Bayer Corporation USA and Senior Bayer Representative in North America. "Increased demand for our products, especially in the CropScience and MaterialScience businesses, helped lead the way to positive results in this important region." Bayer's annual sales in North America increased in two of its three subgroups versus the prior year. North American sales in Bayer MaterialScience advanced by 9.6% to EUR 2109 mln (US$2932 mln). In 2011, Bayer invested EUR 528 mln (US$734 mln) in research and development in North America and increased its capital expenditures by 32% to EUR 420 mln (US$584 mln). Some of the announced investments and key activities in 2011 included a US$120 mln process technology and energy efficiency improvement project at Bayer MaterialScience's Baytown, Texas, facility -- Bayer's largest production site in the U.S.