Bayer begins building of German facility

Bayer has announced the start of construction on a new 22 million euro (20.57 million pound) facility in Chempark Leverkusen, Germany.

Specialising in the production of carbon nanotubes, the plant is expected to have a capacity of 200 tonnes per year and will create jobs for 20 people.

Dr Wolfgang Plischke, member of the Bayer board of management, said the organisation was “investing in a key technology of the future that will open up a broad range of new applications” for the company.

He added: “We intend to utilise this opportunity to the full.”

The company expects the global market for carbon nanotubes to grow by 25 per cent each year, with sales in a decade predicted to reach $2 billion (1.41 billion).

Based in Leverkusen, Germany, Bayer’s Healthcare division employs 51,500 people around the world.

The company’s sales figure in 2007 was 14.8 billion euros, while its operating profit was 1.56 billion euros.