Bayer subsidiary H.C. Starck GmbH & Co. KG has signed an agreement to
acquire U.S.-based CSM, a manufacturer of molybdenum and tungsten
mill products as well as machined components and fabrications made
from alloys of other refractory metals. "In light of the continuing
good prospects for further growth, we have decided to expand H.C.
Starck, an important business for the Bayer Group," commented Manfred
Schneider, Bayer management board chairman. "The acquisition of CSM
will enhance the potential of that business and create value for
Bayer." The acquisition requires the approval of U.S. antitrust
authorities, which is expected by the end of this month. With 500
employees in the U.S. and Europe, CSM has budgeted for global sales
of about $110 million in its current fiscal year.
For additional information, call (49) 5321 751-153.