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Bayer Corporation Sells Organic Pigments Business Sun Chemical

Published on 2002-03-18. Author : SpecialChem

Sale Includes Organic Pigments Manufacturing Facilities at Bayer's Bushy Park, South Carolina Facility

Bayer Corporation has agreed to sell its organic pigments business located at Bushy Park, S.C., to Sun Chemical Corporation, Fort Lee, N.J. Included in the sale are Bayer's Indofast®, Perrindo®, Quindo®, and Palomar® pigments. Sun chemical is a division of Dianippon. These organic pigments are used in coatings for automotive, industrial and architectural applications and for coloring plastics and fibers. A company spokesperson said that the price of the business was under $100 million, or roughly its 2001 sales.

"Divesting these organic pigments is part of Bayer's strategy of streamlining our product portfolio and concentrating on our core businesses," said Dr. John L. Williams, Executive Vice President, Bayer Corporation and President, Coatings and Colorants Division.

The business to be acquired employs approximately 180 people. Pending approval by regulatory groups, transfer of ownership is planned for April 1, 2002.

Bayer will continue to produce colorants including Macrolex® dyes, Pigment Yellow 150 and Bayferrox® iron oxide pigments. Bayer's organic pigments produced in Lerma, Mexico are also not included in the sale.

Bayer Corporation's Coatings and Colorants Division produces quality raw materials for polyurethane high-performance coatings and adhesives, as well as an outstanding range of organic and inorganic colorants. The division's products find broad application in the automotive, construction, maintenance, industrial and adhesives markets.

Best known for its flagship product, Bayer Aspirin, Bayer Corporation produces a broad range of health care, life sciences and chemical products that help diagnose and treat diseases, purify water, preserve local landmarks, protect crops, advance automobile safety and durability and improve people's lives.

Headquartered in Pittsburgh, Bayer Corporation had sales of $10.1 billion in 2000 and is one of Fortune magazine's Most Admired Companies. The company employs 23,200 people. It is a member of the worldwide Bayer Group, a $29 billion international health care and chemicals group based in Leverkusen, Germany. The Bayer Group stock is a component of the DAX and is listed on the New York Stock Exchange (ticker symbol: BAY).

Source: Bayer Corporation

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