Other years: 2008 2007 2006 2005 2004 2003 2002 2001 1999 1998
In 2000 a total of €4.2 billion was spent on acquisitions. The purchase prices of the foreign acquisitions are translated at the exchange rates in effect at the respective dates of acquisition.
Significant Acquisitions
Effective March 31, 2000 Bayer acquired the polyols business of Lyondell Chemical Company, Houston, Texas, United States. The acquisition comprised U.S. production facilities in Institute and South Charleston, West Virginia, and Channelview, Texas; European plants in Rieme, Belgium, and Fos-sur-Mer, France; companies in Indonesia, Singapore and Taiwan; and research facilities in Newtown Square, Pennsylvania; South Charleston, West Virginia; Villers St. Paul, France; and Singapore. The total purchase price, including an equity interest in propylene oxide production, was €2.6 billion.
The Crop Protection Business Group acquired the
FLINT® line of crop fungicides from Novartis effective December 7, 2000. This €880 million acquisition includes global ownership of all associated intellectual property rights, registrations and trademarks, production and formulation know-how and the production facilities in Muttenz, Switzerland. At the same time Bayer acquired the exclusive right to market certain products based on the active ingredient cyproconazole in the European Union.
On October 21, 2000 Bayer Corporation, the U.S. subsidiary of Bayer AG, purchased 99.6 percent of the approximately 5.7 million outstanding shares of U.S. polymers and specialty chemicals producer
Sybron Chemicals Inc., Birmingham, New Jersey, at a price of US$ 35 per share. The total purchase price, including all of Sybron’s liabilities, was approximately €386 million. The acquisition provides Bayer’s Coatings and Colorants Business Group and Specialty Products Business Group with access to new technologies and products.
Effective November 17, 2000 Bayer subsidiary H.C. Starck GmbH & Co. KG of Goslar, Germany acquired the
CSM group of companies, headquartered in Cleveland, Ohio, United States, for €146 million. CSM is a manufacturer of molybdenum and tungsten mill products as well as machined components and fabrications made from alloys of other refractory metals.
Our U.S. subsidiary Bayer Corporation acquired major parts of the paper chemicals business – including patents and knowhow – of the U.S. specialty chemicals manufacturer
Cytec Industries Inc., West Paterson, New Jersey, for €107 million, effective November 1, 2000.
On June 1, 2000 the Consumer Care Division of Bayer Corporation purchased the complete
RID® line of head lice treatments from Pfizer Inc. The €99 million acquisition includes all the related patents.
Effective January 1, 2000 we acquired for €27 million the remaining 50.1 percent of the shares of
Misung Ltd., Pyongtaek, South Korea, which up till that time had been a joint venture with Aventis S.A. Misung formulates and markets a wide range of crop protection products in South Korea.
On December 15, 2000 Bayer Ltd., Japan, purchased a further 10 percent of the shares of
Sumitomo Bayer Urethane Co., Ltd., Japan, a joint venture with Sumitomo Chemicals Co. Ltd., for €7 million, thereby raising Bayer’s interest to 60 percent.
The Consumer Care Business Group strengthened its skin care products business and improved its position in the British market through the acquisition by U.K. subsidiary Bayer plc of the
Germoloid® brand effective January 1, 2000. The purchase price paid to GlaxoSmithKline was €11 million.
Significant Divestitures
Bayer sold its 25 percent interest in Schein Pharmaceutical Inc., Florham Park, New Jersey, United States, to Watson Pharmaceuticals Inc. effective July 31, 2000 for €170 million.
Also effective July 31, 2000 the Animal Health Division of Bayer Corporation sold the
U.S. livestock vaccines business to the animal health company Intervet International, a subsidiary of Akzo Nobel, Arnhem, Netherlands, for €81 million.
Bayer Corporation sold its 11 percent interest in
Myriad Genetics of Salt Lake City, Utah, United States, for €76 million.
Effective October 18, 2000 we sold the subsidiary
Bayer Solar GmbH to the SolarWorld group of Bonn, Germany in return for a cash payment of
€38 million and an approximately 9 percent interest in the photovoltaics company SolarWorld AG. The total proceeds of this divestiture amounted to €56 million.
