Bayer reports sales increases

Bayer Corporation’s sales increased 13.6 percent in 2000 and topped the $10 billion mark for the first time. Bayer’s sales were $10.1 billion in 2000, up from $8.9 billion in 1999. Profit before taxes rose 29 percent while net income was up 32 percent.

“Our cost saving efforts and our capital investment program paid strong dividends in 2000, helping us increase sales and remain profitable despite rising energy and raw materials costs.”

About half of the $1.2 billion sales increase was due to acquisitions, primarily the acquisition of Lyondell’s polyol business in 2000.

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