Henkel Cosmetics Business Eyes Top Five Worldwide Ranking - CEO
This article was originally published in The Rose Sheet
Executive Summary
Henkel plans to build its cosmetics segment to become one of the top five businesses in the world, CEO Ulrich Lehner maintained during an analyst meeting Nov. 13.
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Henkel
German consumer goods firm sells Cognis chemical products division to further develop core businesses in transaction valued at $2.35 bil. ([Euro]1=$.90), Henkel announces. Consortium of financial investors comprising Schroder Ventures and Goldman Sachs acquired the chemical division that served manufacturers of cosmetics, cleaners and detergents. Cognis business, which includes Oleochemicals, Care Chemicals and Organic Specialties, generated sales of $2.9 bil. in 2000 and represented 23% of Henkel sales. Agreement was signed Sept. 12 and is expected to close in November. Henkel announced it would consider selling Cognis to focus on Cosmetics/Toiletries, Laundry & Home Care and Adhesives last year (1"The Rose Sheet" Nov. 20, 2000, p. 7)
Henkel
German consumer goods firm sells Cognis chemical products division to further develop core businesses in transaction valued at $2.35 bil. ([Euro]1=$.90), Henkel announces. Consortium of financial investors comprising Schroder Ventures and Goldman Sachs acquired the chemical division that served manufacturers of cosmetics, cleaners and detergents. Cognis business, which includes Oleochemicals, Care Chemicals and Organic Specialties, generated sales of $2.9 bil. in 2000 and represented 23% of Henkel sales. Agreement was signed Sept. 12 and is expected to close in November. Henkel announced it would consider selling Cognis to focus on Cosmetics/Toiletries, Laundry & Home Care and Adhesives last year (1"The Rose Sheet" Nov. 20, 2000, p. 7)
Henkel
Cosmetic and toiletry sales rose 11.9% to $1.78 bil. ([Euro]1=$.88) in fiscal 2000, firm reports. CEO Ulrich Lehner recently announced Henkel will grow its cosmetics sector to rank among one of the top five worldwide (1"The Rose Sheet" Nov. 20, 2000, p. 7). Overall sales rose 12.5% to $11.4 bil. compared to 1999, and net earnings increased 25% to $448.5 mil. North American sales increased 17% to $1.95 bil. Sales in Latin America jumped 29% to $512.4 mil., African sales soared 53% to $191.8 mil. and sales in Asia/Australia grew 37% to $1.15 bil