Strong Euro, restructuring charges take Bayer into the red in third quarter
The German chemicals and pharmaceuticals giant Bayer has posted a net loss of Eur123 million, ($141 million) for the third quarter, citing one-off restructuring charges and poor sales by its chemicals and polymers divisions. This compares with a net profit of Eur656 million a year earlier. The company also blamed the strength of the Euro, saying this had depressed US earnings which are reported in Euros. Analysts were expecting a net loss of Eur68-166 million.