Cognis sales reflect "real growth"
This article was originally published in The Rose Sheet
Executive Summary
Chemical supplier reports sales of €1.5 bil. ($1.9 bil.) for first half of year, up 16% from same period in fiscal 2009. Profit reached €109 mil. ($139 mil.), up from loss of €20 mil. ($25.4 mil.) last year. Higher sales in the personal-care market grew sales in Cognis' Care Chemicals 16% to €845 mil. ($1.1 bil). Monheim, Germany-based firm attributes gains to "not just a recovery, but real growth in consumer and industrial markets," CEO Antonio Trius notes in Aug. 26 release. For remainder of 2010, "we expect ... that the recovery will continue at a more modest pace," the exec adds. Cognis was acquired by BASF in June for €3.1 bil. ($3.8 bil.) (1"The Rose Sheet" June 28, 2010)
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