Bayer has been active in Ukraine for many years and is committed to the country, its people and farming communities,” the company said.
German pharmaceutical and agrochemical concern Bayer AG will invest EUR 60 million in the development of its corn seed plant in Pochuiky, Zhytomyr region. This was reported by the press service of the company.
Investments
The investments will be directed to the construction of an additional seed dryer, purchase of modern field equipment, the expansion of warehouses and the construction of two bomb shelters on the territory of the plant for the safety of workers.
Additional investments will help expand the plant’s capacity to meet domestic demand for corn seeds and significantly strengthen Ukraine’s export position in the world market.
“We are with Ukraine”
“We are with Ukraine. This was the case before the war began – and even more so since. Bayer has been active in Ukraine for many years and is committed to the country, its people and farmers’ communities” said Mathias Berninger, Head of Public Relations, Science and Sustainability.
Berninger was part of a small business delegation led by Vice-Chancellor Robert Habeck during a visit to Ukraine. The delegation, which also included Oliver Hirlichs, Managing Director of Bayer Ukraine, discussed Germany’s commitment to the country and its people, as well as opportunities for economic partnership. It was the first business delegation of the German government to Ukraine since the beginning of the war.
Before the full-scale war, the company made a significant investment of about 200 million euros to establish corn seed production through a network of qualified Ukrainian farmers and a seed processing plant in Pochuiki. The plant was inaugurated in 2018, it employs about 100 permanent employees and about 250-300 seasonal workers. Bayer, with its plant, is one of the largest investors in the region. Its taxes make up about 25% of the budget of the local community.
On April 3, Vice-Chancellor and Minister of Economy Robert Habeck arrived in Kyiv with a business delegation, and discussed ways to support the Ukrainian army and economy. In addition to reconstruction and cooperation in the energy sector, we are also talking about investments from German companies, in particular, the pharmaceutical and agrochemical group Bayer.
At the same time, Bayer continues to operate in the Russian Federation but does not invest in development, the press service of the company also reported.
Bayer AG is a German joint-stock company founded in 1863. It is headquartered in Leverkusen. Areas of activity: manufacture of plastics, medicines, plant protection products, paints, and varnishes. Employees of the company, among other things, invented drugs such as aspirin and heroin.