Bayer plans to sell its non-core subsidiary Walothen GmbH to the Wihuri group of Finland effective September 1, 2003, subject to regulatory approval. The divestment is part of the continued systematic streamlining of Bayer’s portfolio.
Bayer’s activities in the Walsrode Industrial Park will now focus on its subsidiary Wolff Cellulosics, which manufactures cellulose derivatives for use in building materials, printing inks, coatings, pharmaceuticals and cosmetics.
Walothen GmbH employs 240 people at the Walsrode Industrial Park, producing high-performance polypropylene films for four market segments: tobacco industry, print lamination, overwrap films and standard films.
The company is currently a subsidiary of Wolff Walsrode AG and belongs to Bayer Chemicals, a business area of Bayer. Walothen GmbH has annual sales of approximately 60 million Euros.
The Packaging Division of the Finnish Wihuri group already has facilities in the Walsrode Industrial Park producing high-grade composite films for food packaging, medical and technical applications. The acquisition would add to its production portfolio a range of films that it has so far purchased mainly from Walothen.