Bayer Hopes For 4%-5% Sales Hike In Italy

Bayer AG's chairman, Manfred Schneider, has said that the group iscounting on a 4%-5% rise in its sales on the Italian market in 1998 compared with 1997 levels. He added that the group is also exploring possible joint ventures or acquisitions of small and medium-sized companies operating in the life sciences sector, but there are no set plans as yet in this direction.

In Italy, Bayer's main investment will take off towards the end of 1988 or early 1999, when a new biological products plants is to be built near Sienna. Mr Schneider said that he hoped that the political stability shown by Italy over the last six months continues, as the country is Bayer's second-largest market after Germany.

Bayer Italia expects to report a 2.5%-3% rise in sales for 1997. The first nine months of 1997 ended with 2,611 billion lire ($1.94 billion) sales, up 3% from a year earlier. Pretax profits are in line with last year, when they reached 38 billion lire.