Reports on Potential Bayer Deal Called ‘Speculation’
The Saudi Arabian petrochemicals company SABIC's reported possible interest in Bayer's polyurethanes business as an acquisition target was described as “pure speculation” in news reports.
Reports in Europe Wednesday quoted Mohamed Al-Mady, the CEO of SABIC (Saudi Basic Industries Corp.) as saying the company “would certainly take a look” at an acquisition of the Bayer business if approached about such a deal. Bayer MaterialScience is a major producer of polyurethane raw materials for coatings and other applications.
A U.S. spokesman for Bayer MaterialScience, Bill Allan, had no comment when asked by Durability + Design about the news reports.
Marijn Dekkers, CEO of Germany-based Bayer AG, was quoted in the reports as saying there are no plans to sell the polyurethanes business.
Bayer MaterialScience is a major manufacturer of polymers and high-performance plastics, including materials for coatings, adhesives, insulating materials and sealants, polycarbonates, and polyurethanes.
SABIC is a major manufacturer of chemicals, fertilizers, chemicals, and plastics.