April 29, 2010 – A continued recovery in its plastics and foams unit helps Bayer AG offset lower demand for its pesticides and allows the company to up its 2010 outlook.
The German pharmaceutical giant predicts that its 2010 operating profit will now exceed 7 billion euro. The company previously predicted its profit would fall short of that mark.
Its MaterialScience plastics and foam unit saw a Q1 underlying profit of 287 million euro, compared to a loss in Q1 of last year. Meanwhile, its CropSceince pesticides unit suffered a 5.9% decline in revenue.
Read more at Chemical Industry Today:
Bayer MaterialScience news – http://chemicals.einnews.com/news/bayer-materialscience
Bayer CropScience news – http://chemicals.einnews.com/news/bayer-cropscience
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