Bayer to acquire Lyondell

Bayer to acquire Lyondell

JAKARTA (JP): Publicly listed PT Bayer Indonesia Tbk announced
on Monday plans to take over a majority share in polyurethane raw
materials manufacturer PT Lyondell Indonesia.

Bayer Indonesia senior executive Wolfgang Piroth said the
takeover of Lyondell Indonesia's shares would be carried out in
the first half of this year.

"The takeover of Lyondell Indonesia is part of Bayer's global
acquisition worth US$2.45 billion of the polyols business of
United States-based Lyondell Chemical Company" he said in
statement.

He said Lyondell Indonesia operated a factory in the Merak
Industrial Park in West Java, with an annual production capacity
of 32,000 tons of polyols, raw materials used in the production
of polymers.

Bayer Indonesia, which produces a broad range of
pharmaceuticals and household and agricultural products, booked
$108 million in sales in 1998. The company's sales rose by 50
percent in the first nine months of 1999 compared to the same
period in 1998. (cst)