Bayer to invest $2.1b in Asia

Bayer to invest $2.1b in Asia

BERLIN (Dow Jones): German chemical company Bayer will invest around DEM4 billion (US$2.1 billion) in Asia through 2010, Axel Foellmer, director of Bayer's operations in Thailand told the Frankfurter Allgemeine Zeitung in an interview.

Bayer's heaviest investment plan in Asia is to Thailand, he said, which will get DEM1.5 billion alone by 2004, it said.

In addition, he said the company is currently restructuring its Asia operations, with Singapore as the hub. Competitor BASF AG's regional headquarters are also in Singapore, the article notes.