Bayer CEO: Innovation the Key to Growth

" They are. Now let's move on this this -- sit down and actually got a couple of CEOs joining us today talk about an interest in new partnership that they've got going got Greg Davis here the CEO of bear here in the Americas and and I'm real cost to sit with us as well the CEO -- force so. It's good to have both of you hear him by the was one of my favorite companies to say -- on morning shows forever and it depends who say real early we will we kind of thing buyer has and you -- the German company. There be -- aspirin right right it was that there here. In the US -- to talk about your company first it tells a little bit about what you guys do and and and why your -- teaming up here with -- Well the -- course we've developed."

" They -- the -- system to be used in marine shipping containers has -- from advanced materials and and technologies. For an industry that is now aggressively searching. For a solution right and they are provides called -- that. And consistent. Global supply."

" Right so it made sense for you guys to team up in that case and it tells them with your angle of -- what Greg -- was a great to great growth opportunity for us I think we do you have the the global reach that's necessary -- report on forces they develop manufacture their product. But for -- it was a great growth opportunity so. Even in tough economic times like these you have to we believe that innovation. And technology development is the is the key to growth yes sort of wanted to talk to you guys about the is doing a deal like this are just talking about things like this -- an economic environment like -- at the G twenty going on now for example right over and then you're talking you're companies obviously very global. What do what do you make of the situation we're in and and what they're talking about over -- in terms of global trade say up we don't know more protectionism. You believe it are you worried. Well I think we all have to be a bit concerned about protectionism that's not the right formula right now to get out of the situation. And certainly if we come back to this partnership this is about about ocean carriers. It's about freight. Also about about transportation here. In the head within the region. I had major moving in between you -- borders -- had deals get done how business works right let me know what what's your take on a whole. Because that is a big topic in the news right now right -- of this of this whole idea of hey hey let's look let's keep it open to free trade and let's not I have too much of a push back protectionist measures that some countries put in place come home."

" 90% of world trade measured in dollar volume is this transport and shipping containers. It's it's down now he noted that the bad news is we have. Great racing down the trade routes are down inventories are shipping lines are reducing their inventories drawing from existing. But the good news is here there was a report by the Deutsche Bank research. In 2000 and December 2008. The states that the growth is expected to be at 70% per annum till the year 2015. Sell him the the future forecast for instance is looking -- for the mistake of her."

" Today area allowed to have what about you what do you think Greg in terms of when things turn you getting a sense that you involved in as many different businesses as you guys are. We can we look closely to the FB ISM index from the ISM index. As you know has flattened out -- yeah that's an indication about the getting worse bottom. And we're hopeful that we'll start to see some turnaround it is and I definitely think so that you you're starting to plan your business with the assumption that the economy has bottomed out for the worst is over. That's correct and we are thinking right now is that in the US we believe the economy is. Has bottomed out and that we're hoping we see some stability here and start to. That turned the corner and what about you guys in terms about how you're doing a partnership like this and and doing other things -- make that similar assumption are still much volatility only will we don't worry about the future be the this industry remains in need of an alternate for. And were around. Where there to supply one and but by the way what was just this is kind of not off topic on topic but getting back on topic what to what what was the need for the what did we need what was wrong with the force."

" Points Harris simply put according to to a great -- our report in 2006 of tropical hardwood floor reach critical us supply levels -- 2010. They're deteriorating. What -- so they force -- failing containers they're throwing in which species that are so. The sub standard right and as a result the it's the national institute of container less source in the container owner's association. Which represent the vast majority of manual container purchases write a proposed audience of the plywood manufacturing companies. As a result of the third hearing floors and they you guys that didn't -- we stepped into that they had me on average here that make fortified million containers some percentage will be put out too good to alternatives and where -- to. To meet our market entered apartments but being this percentage okay going to bring -- nice to meet you thanks for coming and -- Greg thanks a lot on air and count for sure appreciate you guys good luck with the partnership but are."