Bayer execs examining SR unit

COLOGNE, Germany (May 12)—The executive team at the newly organized Bayer Polymers A.G. is conducting a thorough examination of the unit's synthetic rubber business and will over the coming months develop action plans for its various business units, according to the firm's top executive. "(SR) is among the top priorities for us for action," Bayer Polymers CEO Hagen Noerenberg said at the formal launch May 8 in Cologne of the Bayer Polymers organization. Although the firm's tire business unit is enjoying full order books, the SR activity cannot continue the way it has been doing under the new targets for growth and business performance, Noerenberg said. "We need to find a good model for it," he said, but stopped short of saying the unit is for sale. He noted that the synthetic rubber units of the Eni Group and Goodyear are for sale with no buyers willing to pay a good price for them. Separately, Jörg Schneider, director for Europe of Bayer Polymers' tire activity, said all the company's rubber factories are operating close to capacity, with full order books and healthy sales.