Bayer's Walothen subsidiary sold off

- Last updated on GMT

Related tags: Chemical industry

German chemicals and drugs company Bayer has said that it plans to
sell its subsidiary Walothen to Finland's Wihuri as part of an
ongoing restructuring of its portfolio.

German chemicals and drugs company Bayer has said that it plans to sell its subsidiary Walothen to Finland's Wihuri as part of an ongoing restructuring of its portfolio.

The disposal of Walothen, which manufactures polypropylene films for the tobacco industry, print lamination, overwrap films and standard films will be effective 1 September, subject to regulatory approval.

Walothen employs approximately 240 people at the Walsrode Industrial Park and is a subsidiary of Wolff Walsrode with annual sales of around €50 million. Bayer's activities in Walsrode will now focus on its subsidiary Wolff Cellulosics, which manufactures cellulose derivatives for use in pharmaceuticals, building materials, printing inks, coatings and cosmetics.

Wihuri's packaging division already has facilities in the Walsrode Industrial Park producing high-grade composite films for food, medical and technical applications. The Finnish group said the acquisition would add to its production portfolio a range of films that it has so far purchased mainly from Walothen.

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