Press Room
March 17, 2003
German VersionCognis announced the sale of its Fragrances & Specialties business
Cognis announced today the sale of its Fragrances & Specialties business (Cognis F&S) to Kao Chemicals. Cognis is divesting the aroma chemicals and fragrance compound business as part of its strategy of concentrating on its core businesses. Kao Chemicals will incorporate the business into their own aroma chemicals and fragrance business.
“Cognis has successfully developed its Fragrances & Specialties business into a highly specialised and profitable niche player which achieved sales of Euro 30 million in 2001”, stated Cognis Chief Executive Officer, Antonio Trius. Cognis F&S is widely recognized as a leading manufacturer and supplier of aroma chemicals and fragrance compounds worldwide.
“This acquisition will enhance profitability of Kao’s aroma chemicals business and benefit overall activities in our chemical products division towards achievement of profitable growth”, stated Takuya Goto, President and CEO of Kao Corporation. Consolidated net sales from this business field will amount to the level of 15 billion yen (approximately 120 million Euro).
About Cognis:
Cognis is a worldwide supplier of innovative specialty chemicals and nutritional ingredients with almost 9,100 employees in close to 50 countries. The company has dedicated its activities to a high level of sustainability and delivers natural source raw materials and ingredients for food, nutrition and healthcare markets, and the cosmetics, detergents and cleaners industries. Additionally, Cognis provides solutions for a number of other industries, such as coatings and inks, lubricants, textiles and plastics, as well as agrosolutions and mining chemicals.
Cognis is owned by private equity funds advised by Permira, GS Capital Partners, and Schroder Ventures Life Sciences. In 2002, Cognis recorded sales of 3,1 billion Euro and an operating profit before depreciation, amortisation and exceptional items (EBITDA recurring) of 393 million Euro.
About Kao:
Consolidated net sales of the chemical products business in FY2001 amounts to 138.8 billion yen (equivalent to approximately 1 billion Euro), which comprises of approximately 17% of the overall sales of the Kao Group. Besides oleochemicals with natural fats and oils derived from coconuts and palm, Kao supplies over 1,000 kinds of specialty chemicals with specific features to various industries.
Contacts at Cognis:
Susanne Marell, Vice President Cognis Corporate Communications, Cognis Deutschland GmbH & Co. KG
Phone: +49-211-7940-5395
email: susanne.marell@cognis.com
Internet: www.cognis.com
Susanne Sengel, Corporate Communications Manager
Phone: +49-211-7940-5431
email: susanne.sengel@cognis.com
Internet: www.cognis.com
Contacts at Kao Chemicals:
Public Relations Department, Kao Corporation
Phone: +81-3-3660-7043
Fax: +81-3-3660-7044