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In Brief: Bayer/GE

This article was originally published in The Gray Sheet

Executive Summary

Bayer/GE: Bayer AG and General Electric Company subsidiary GE Plastics to form $410 mil. joint venture by combining Europe, Africa and Middle East silicone businesses. Operations, expected to commence on July 1, 1998, will employ 900 people. Integration of Bayer's Leverkusen, Germany facility and GE Plastics' Bergen op Zoom, The Netherlands, includes manufacturing, R&D, marketing and sales operations; GE will own 50.1% while Bayer will hold a 49.9% stake. Bayer's silicon activities outside of the joint venture will be integrated into GE's worldwide silicone business. Financial terms of the deal were not disclosed...
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