Cognis
This article was originally published in The Tan Sheet
Executive Summary
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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Cognis
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)
BMS Streamlining To Focus On Consumer Medicines, Nutritionals
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Cognis Nutrition and Health
Henkel Nutrition and Health Group, a division of Henkel Corp., is renamed Cognis Nutrition and Health as of Jan. 1, 2000. The company adopted the new name and logo under new VP Michael Sundos, PhD, with the hopes of reworking its image as a customer-oriented manufacturer; Cognis comes from the Latin root "cognoscere," meaning to realize or notice. The division is now concentrating on marketing products with lutein, including its Xangold brand and Whitehall Robins' Centrum and Centrum Silver, for which Cognis supplies lutein esters. The division also plans to release Prevastein, a product containing soy isoflavones, soon in collaboration with Central Soya