Germany-based conglomerate Bayer may be considering selling its US$10 billion plastics unit (MaterialScience division), according to a Bloomberg report. The possible sale would accelerate a retreat from chemicals for Bayer, leaving it to focus more on the lucrative life-science/pharma industry sectors, said the report. Last year in September, CEO Marijn Dekkers had said that cost cutting measures were to be implemented at the division and he was quoted as having said that there was no pressing need to sell/spin off the division as yet. (http://www.plasticsandrubberasia.com/sept2013/company8.html)

But Leverkusen-headquartered Bayer is reviewing options for Bayer MaterialScience after compatriot chemicals company Evonik Industries showed potential interest some months back, though that deal did not go through. Bayer sold a major part of its speciality chemicals portfolio a decade ago by spinning off its Lanxess subsidiary. This leaves Germany-headquartered Merck to be amongst one of a few companies still with chemicals and pharmaceuticals assets.

Bayer MaterialScience reported lower earnings last year, with parent company expecting a pick up this year, with a higher demand expected for BMS’s polycarbonates, polyurethanes and speciality plastics.