Bayer sells Hennecke to Adcuram

Thu, 1 November 2007

Bayer is to sell its subsidiary Hennecke Group to the Adcuram Group, Vienna/Munich. The Bayer Group will thus divest its polyurethane processing machinery business, which does not constitute one of the company’s core competencies.

The sale is scheduled to be completed by the end of the year. Financial details of the transaction will not be released. The Bayer subgroup Bayer MaterialScience and Hennecke wish to maintain their business relationship in future so as to ensure continuity for customers.

The Hennecke Group is headquartered in Sankt Augustin near Bonn, Germany, and has over 60 years experience as a globally operating producer of polyurethane processing machinery and equipment. It is a leading international supplier, particularly in the slab foam, refrigerating appliance, sandwich panel and molded building component sectors. With production sites in St. Augustin (Germany), Pittsburgh (U.S.A.), Singapore and Shanghai (China), the company employs approximately 500 people and posted sales of about EUR 80 million in 2006.