July 3, 2018 / 3:52 PM / 8 months ago

Bayer sees Brazil as key growth driver for global crop division

FILE PHOTO: The logo of Bayer AG is pictured at the Bayer Healthcare subgroup production plant in Wuppertal, Germany February 24, 2014. REUTERS/Ina Fassbender/File Photo/File Photo

SAO PAULO (Reuters) - Brazil is the second most important market for Germany’s Bayer AG (BAYGn.DE) and will be a growth driver for its crop science division, global crop science chief executive officer Liam Condon said on Tuesday in a meeting with journalists in São Paulo.

Bayer, which is in the process of completing its takeover of U.S.-based Monsanto Co. (MON.MX), estimates revenues of about 15 billion reais in Brazil this year, 80 percent of which deriving from the combined companies’ businesses that include agrochemicals and licensing of genetically modified seeds.

Reporting by Ana Mano

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