Bayer shifts US glyphosate business to Ruveon after seeking tariffs on Chinese imports
The 120 metres high Bayer Cross, logo of German pharmaceutical and chemical maker Bayer AG, consisting of 1710 LED glass bulbs, is seen next to a red traffic light in Leverkusen, Germany, September 23, 2023. REUTERS/Wolfgang Rattay
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July 1 : Bayer said on Wednesday it is consolidating its U.S. glyphosate business into its Ruveon unit, a day after it asked Washington to impose duties on Chinese imports of the chemical used in the company’s weedkiller Roundup.
• Bayer, the only U.S. maker of glyphosate, sought duties against Chinese imports of the chemical and said on Tuesday that “the domestic glyphosate business as it stands today is not sustainable”, angering farmers who said such a move would raise herbicide costs.
• The St. Louis-based unit, which remains a Bayer business, will oversee all aspects of U.S. glyphosate sales, including pricing, go-to-market strategies, production and logistics, the company said on Wednesday.
• Bayer said the consolidation of the business was part of its Crop Science division’s five-year restructuring plan.
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• “Ruveon is expected to be a more nimble and well-positioned player within its commodity-based market, which requires a specialized approach to address competitive dynamics,” Bayer said.
• Last week, the German pharmaceuticals and agriculture group scored a major legal victory when the U.S. Supreme Court blocked thousands of state-court lawsuits that accuse Bayer of failing to warn users that glyphosate causes cancer.
• Ruveon will be led by Bayer veteran Alfonso Alba Ordonez.
Source: Reuters
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