Bayer Pulls Out of Investment in Taiwan

German chemical maker Bayer has dropped plans to build a $1.48-billion plant in Taiwan, but the island nation said it is expecting other overseas companies to invest $1.5 billion next year. U.S., French, Swiss and German firms are planning up to 11 large investments, the Economics Ministry said. It said details would remain confidential until deals were signed. Bayer’s announcement Friday came after 18 months of delays and a county-government decision to subject the plant to a public referendum. Bayer said it would build the plant instead in Baytown, Texas, where it already has a construction permit.