Bayer to keep fibers business

LEVERKUSEN, Germany (May 31)—Bayer A.G. has taken down the "for sale" sign at Bayer Faser GmbH after having failed to find a buyer for the unit, whose main product is Dorlastan-brand spandex fiber. Bayer placed the business on the market in April 2001, but has decided to retain Bayer Faser "for the foreseeable future," the company said. "In the current business environment, continuing the business offers better prospects for success than a divestment. The market is not prepared to pay an appropriate price for this business at the moment," according to a Bayer statement. With sales of $208 million in 2001, Bayer Faser employs 952 at sites in Dormagen and Goch, Germany, and Bushy Park, S.C.