Bayer plans EUR 100-million investment in Brazil
24 June 2008
Bayer plans to invest around EUR 100 million through the end of 2009, at its various sites in Brazil, one of Bayer's top 10 markets worldwide in terms of sales. In 2007 Bayer achieved sales of EUR 3.2 billion in Latin America, of which, Brazil accounted for about EUR 1.2 billion - or more than one third.
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| (f. r.) Bayer CEO Werner Wenning, Sergio Cabral, Governor of the State of Rio de Janeiro, President Luiz Inácio Lula da Silva of Brazil, and the Bayer Senior Representative in Brazil, Dr. Horsfried Läpple, with students of the Bayer Soccer Academy at the Belford Roxo site. |
The announced investment programme will focus on Belford Roxo, where EUR 40 million will be spent on modernisation and technical upgrading of the production facilities for plastics precursors and crop protection products, as well as on infrastructure projects. In addition, partner companies have announced that they will invest a further EUR 55 million at the Bayer industrial park in Belford Roxo.
The projects to be implemented by Bayer and its partners will create 800 new jobs in the Belford Roxo area in addition to the current 2,000 at this location. The site is Bayer CropScience's second-largest formulations plant worldwide for crop protection products, while Bayer MaterialScience supplies the entire South American market with MDI, a raw material used in the production of polyurethane foams, from Belford Roxo.
Also produced at this site are coating raw materials for the automotive, furniture and construction industries. Together with its partner companies in the industrial park, Bayer is the biggest employer in Belford Roxo, a city of 500,000 inhabitants. In addition, Bayer HealthCare operates three production sites in Brazil. The Bayer Group currently employs a total of 3,300 people in the country.
Bayer will invest another EUR 60 million will be invested at the other Bayer sites in Brazil.
