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CHIMIE HEBDO: Bayer announces 1H 2001 results and a worldwide cost cutting programme.
Bayer announces that it is to follow its fall in results (listed in this item, including separate sales figures for fibres, polymers, health, agriculture and chemicals sectors) in 1H 2001, and meet changed trading conditions (reduced demand and higher prices for raw materials), with a long term profitability improvement programme, designed to save EUR 1 bn in 2002 and EUR 1.5 bn/y by 2005.
Worldwide the group is to close 15 sites and cut 1800 jobs.
Bayer's shares lost 25% of their value in the week after the announcement that the new medicine Baycol/Lipobay had been withdrawn, and the group has put off until the beginning of Feb 2002 the plan to float on the …
