German drugs and chemicals group Bayer is targeting around 20 percent growth in sales in the region comprising mainland China, Taiwan and Hong Kong this year.

The company, one of the major chemical investors in China, had sales in the region -- termed Greater China -- of 1.26 billion euros ($1.62 billion) last year, the lion's share of which came from its MaterialScience plastics and chemicals unit.

The unit would cross 1 billion euros in sales in Greater China this year, up from around 800 million euros in 2005.

China is of central importance to Bayer in the region Far East/Oceania -- as a production site and in our business strategy.

Bayer is starting operations at its Shanghai site for polycarbonate and inputs that go into foams and coatings. The company is investing around $1.8 billion at the site by 2009.

Bayer has 19 units in China and employs 4,900 people, up by 1,200 from the end of last year.

Bayer was mulling acquisitions in healthcare in China, which could be products or product lines and could include prescription-free drugs.

There was strong interest in H.C. Starck and Wolff Walsrode, two chemical units the company wants to sell to help finance this year's purchase of Schering.

Source:佚名