Bayer forms science and education foundations

Bayer has announced the consolidation of its foundation activities and the creation of the Bayer Cares Foundation and the Bayer Science & Education Foundation.

These bodies will have a combined capital of 17.4 million euros (11.7 million pounds), with this funding added to the existing assets of the Hermann Strenger and Herbert Grunewald Foundations.

The Bayer Cares Foundation is the company’s new body for its social activities, while the science and education group aims to promote education in schools and a higher level, with a focus on research and medicine.

Dr Wolfgant Plischke, management board member of Bayer responsible for innovation, technology and the environment, commented that there are many different requirements across our knowledge-based society.

“We are responding to this situation by supporting both young talents and top specialists in those areas of science that are related to our core businesses of health care, nutrition and high-tech materials,” he said.

He added that the science and education foundation hopes to aid attempts to improve education opportunities in communities, with the firm inviting interested parties to contact the company for further information and funding applications.

In May 2007, the Bayer group reported that it is making rapid progress in its efforts to integrate Bayer Schering Pharma into the company, with the pace of growth at both firms sustained since the announcement of their merger.