Bayer plans on investing 100 million in Brazil
Valor Econômico - 06/24/2008
Bayer plans on investing € 100 milion (R$ 255 million) in Brazil until 2009, by means of allocations of funds scheduled for the units of the German company in Socorro and Cancioneiro, in the State of São Paulo, and in Belford Roxo, State of Rio de Janeiro. The international president of Bayer Group, Werner Wenning, said that, from this total, €40 million will be invested in Belford Roxo. According to Wenning, the partner companies of the German company that operate in the Bayer's industrial park in Rio de Janeiro city will invest another € 55 million, which will result in 800 new jobs in the region, in addition to the currently existing 2 thousand ones. The unit of the German company located in Belford Roxo (SP), opened 50 years ago, has a yearly production of 45 thousand tons of MDI - the raw-material for the production of polyurethane - besides pesticides and herbicides. The production of MDI is the only one that Bayer has in Latin America and the product is distributed throughout the South American market. "With investments in infrastructure and technologies, the industrial park has followed the evolution of the businesses of Bayer around the world and represents a strategic place for the company in Latin America", said Wenning. He took part in the ceremony for the celebration of the 50 years of the opening of the Belford Roxo unit, attended by President Luiz Inácio Lula da Silva. In 2007, the Brazilian market was responsible for the sale of €1.2 billion, equivalent to 36% of all sales for Latin America. That was followed by Mexico, responsible for 26% of the €3.2 billion sold to the continent in 2007.