Bayer to double China sales by 2015
June 27, 2011 Category Foreign investment, Weekly
Bayer has unveiled plans to double its sales in the Chinese market to €6 billion by 2015, Management Board Chairman Marijn Dekkers said. China is Bayer’s third-largest single market globally, contributing almost 8.3% of global sales. In 2010, Bayer generated sales of €2.9 billion in China, an increase of almost 40% from 2009. Bayer MaterialScience (BMS) started the third phase of expansion at its polymer research and development (R&D) center in Shanghai last week. The center will develop into a global innovation hub for the company and is scheduled to become operational by the second half of 2012. Bayer MaterialScience is projected to invest more than €3 billion in China by 2016. Bayer’s history in China goes back to 1882, when the company first began marketing dyes.
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