Bayer CropScience Plans Investment of EUR3.4 Billion in R & D through 2012     

"We need a second green revolution," said Professor Friedrich Berschauer, Chairman of the Board of Management of Bayer CropScience AG. "We need intensive agricultural research if we are to meet the challenges associated with producing food and making the best possible use of the agricultural resources available to us."
   After an outstanding business development in the first six months in 2008, Bayer CropScience is now setting the course for the future. The company is launching an extensive research program to seize the long-term opportunities for growth on the agricultural markets. To this end, a total of EUR3.4 billion will be invested into research and development of innovative crop protection products and new solutions in seeds and plant biotechnology between 2008 and 2012. During the same period the company is planning to bring 10 new crop protection active ingredients to market which will have a combined peak sales potential of more than EUR1 billion. This new objective complements existing plans to achieve sales of EUR2 billion with active ingredients launched since 2000. The gratifying development of business indicates that this target will be reached already in 2009 - two years earlier than expected. The company also anticipates achieving an underlying EBITDA margin of approximately 25% this year. This figure was originally planned for 2009.