The Bayer group has announced plans to expand its operations in Asia, predicting annual sales of over €11bn in the region by 2015.

Management board chairman Dr Marijn Dekkers told delegates at Bayer’s international conference that the company aims to achieve a more than 60% increase in sales in Asia by 2015.

"We have made capital expenditures of €3.4bn in Asia over the past ten years, creating a basis for outperforming market growth in this region," said Dekkers.

Sales in Greater China are planned to account for some €6bn as Bayer expands its production, distribution network and research facilities in the country over the coming years.

In Asia, Bayer achieved sales of €6.9bn in 2010, including €2.9bn in Greater China, and anticipates further growth in Asia in 2011.