ARTICLE | Company News

Bayer to change structure

December 6, 2001 8:00 AM UTC

The supervisory board of Bayer (FSE:BAYG) on Thursday approved plans to transform the company's organizational structure into 4 independently operating subsidiaries: chemicals, polymers, agrochemicals, and healthcare. The new healthcare segment comprises pharmaceuticals, diagnostics, biological products, consumer care and animal health business groups. According to CEO Manfred Schneider, the program is expected to lead to savings amounting to around EUR1.8 billion ($1.6 billion) by 2005. ...