The Bayer Group has taken a major step forward in its reorganization program as Bayer CropScience became the first legally independent operating subgroup upon its entry in the trade register today.
The new company—created by combining Bayer’s former Crop Protection Business Group with the activities of Aventis CropScience, which Bayer acquired in June 2002—is the world’s No. 2 agchem supplier. It has about 22,000 employees and some EUR 6.5 billion in sales.
Werner Wenning, chairman of the Board of Management of Bayer AG said besides looking after the necessity of day-to-day operations, the group has made excellent progress.
He said Bayer CropScience has a number of advantages as a new corporate entity. For example it is an agile unit that can operate flexibly and independently in the market. Its creation has greatly facilitated the integration of Aventis CropScience, Wenning stated.
“We have created a modern company that aims to fully exploit its strengths in crop protection, the seed business and biotechnology, as well as in non-agricultural pest control…” Dr. Jochen Wulff, management board chairman of Bayer CropScience AG, said.