This article was originally published in The Tan Sheet
Henkel Group's nutritionals, ingredients and chemicals division revenues increased 12% to $2.73 bil. in 2000, not including about $247.7 mil. in sales to other Henkel units. Operating profit rose almost 23% to $205.6 mil. Cognis' Oleochemicals business sector, encompassing the Nutrition & Health unit, reported a 15% gain to $887.9 mil., with strong growth in worldwide dietary supplement market helping to offset U.S. slowdown. Created when Henkel carved out its chemical products business in August 1999, Cognis accounts for 23% of its parent's overall sales. Henkel execs say they are moving forward with plans to sell part or all of division (1"The Tan Sheet" Nov. 20, 2000, In Brief)
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Most or all of the nutritionals, ingredients and chemicals company could be on the selling block, parent company Henkel Group announces Nov. 13. Dusseldorf, Germany-based Henkel split its chemical products business off to form Cognis earlier this year intending to seek a minority partner, but now says it has been unable to secure an advantageous deal (1"The Tan Sheet" Feb. 14, In Brief). Henkel wants to divert resources from Cognis - which accounts for 23% of the firm's worldwide business - to focus on consumer products. The firm stresses any moves made involving Cognis are unrelated to its desire to acquire the Clairol hair care franchise from Bristol-Myers Squibb (2"The Tan Sheet" Oct. 2, p. 5)
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