April 27 Sun Apr 27, 2014 10:58pm EDT
<span id="articleText"/>April 27 (Reuters) - German drugmaker Bayer AG is exploring the sale of its $10 billion plastics unit to focus on growing its health business, Bloomberg reported citing people with knowledge of the matter.
<span id="midArticle_0"/>Bayer is considering the sale of its MaterialScience division after chemicals company Evonik Industries AG showed interest in the unit several months ago, Bloomberg said, adding that no final decision has been made on the plastics unit. (r.reuters.com/pez78v)
<span id="midArticle_1"/>Bayer, Germany's largest drugmaker, on Friday lowered its outlook for its MaterialScience unit, which makes transparent plastics used in sports goggles, DVDs and car lights, as core earnings for the division slumped by more than a quarter.
<span id="midArticle_2"/>Polycarbonates, the type of transparent plastic that is Bayer's specialty, are in ample global supply after lower-cost rivals in the Middle East, mainly Sabic, built new sites.
<span id="midArticle_3"/>Bayer was not immediately available for comment outside regular business hours. (Reporting by Arnab Sen in Bangalore; Editing by Gopakumar Warrier)
<span id="midArticle_4"/>
<span id="articleText"/>April 27 (Reuters) - German drugmaker Bayer AG is exploring the sale of its $10 billion plastics unit to focus on growing its health business, Bloomberg reported citing people with knowledge of the matter.
<span id="midArticle_0"/>Bayer is considering the sale of its MaterialScience division after chemicals company Evonik Industries AG showed interest in the unit several months ago, Bloomberg said, adding that no final decision has been made on the plastics unit. (r.reuters.com/pez78v)
<span id="midArticle_1"/>Bayer, Germany's largest drugmaker, on Friday lowered its outlook for its MaterialScience unit, which makes transparent plastics used in sports goggles, DVDs and car lights, as core earnings for the division slumped by more than a quarter.
<span id="midArticle_2"/>Polycarbonates, the type of transparent plastic that is Bayer's specialty, are in ample global supply after lower-cost rivals in the Middle East, mainly Sabic, built new sites.
<span id="midArticle_3"/>Bayer was not immediately available for comment outside regular business hours. (Reporting by Arnab Sen in Bangalore; Editing by Gopakumar Warrier)
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