Press Room
April 15, 2005
German Version
Cognis Functional Products:
improved processes to reduce time-to-market for innovations
Cognis’ Functional Products strategic business unit (SBU) is further improving its innovation processes and strengthening its culture of innovation by developing a systematic mechanism for identifying new market trends, called the Market Awareness Process, and by establishing a new technology organization. The aim of these measures is to encourage more customer-oriented innovations, and ensure these are brought to market with maximum speed and efficiency.
The Market Awareness Process is a systematic cross-functional approach that leverages knowledge from the technology, sales and marketing areas. The process is designed to accelerate the progress of innovative and promising ideas, ensuring they make a real contribution to increased customer focus. In practice, Cognis will be screening global markets systematically to identify current and future market trends, and will regularly evaluate the new ideas under development. In this way, the Market Awareness Process will help ensure that the Functional Products business reduces the time-to-market of its innovative solutions, enabling Cognis to benefit from the first mover advantage.
Cognis’ commitment to innovation is further underlined by the realignment of Functional Products Technology and the creation of Innovation Concept Centers (ICCs), formerly known as Application Technology Platforms (Anwendungstechnik). There are three new ICCs – AgroSolutions, Synlubes and Polymers, Coatings & Inks – all of which are oriented towards specific markets and market segments. They are each headed by a Global Technology Manager whose primary responsibility is to develop concepts that anticipate and fulfill customer needs, and offer solutions that have market-wide application.
Comments Rainer Höfer, Vice President Functional Products Technology: “Innovation is the key to the success of Cognis’ Functional Products, and to that of Cognis as a company. This package of new measures marks another step in our progress from being a supplier of specialty chemicals to becoming a provider of customized formulations, services and sustainable solutions for regional customers and multinational key accounts alike.”
Cognis’ Functional Products business is a leading supplier to technology-driven markets, combining an in-depth knowledge of surface chemistry with an ecologically sound approach. The SBU provides an integrated range of high-performance solutions for a variety of industries, including such as polymers, coatings and inks, lubricants, agriculture and mining technology. In 2004, Functional Products achieved sales of 772 million euros, an increase of 11 percent on the 2003 figure.
About Cognis
Cognis is a worldwide supplier of innovative specialty chemicals and nutritional ingredients. The company employs about 8,100 people, and it operates production sites and service centers in 30 countries. Cognis 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 agriculture and mining.
Cognis is owned by private equity funds advised by Permira, GS Capital Partners, and SV Life Sciences. In 2004, Cognis recorded sales of 3.07 billion euros and an Adjusted EBITDA (earnings before interest, income taxes, depreciation, amortization and exceptional items) of 362 million euros.
Contact
Dr. Rainer Höfer, Vice President Functional Products Technology
Cognis Deutschland GmbH & Co. KG
Phone: +49-2173-4995-227
E-mail: rainer.hoefer@cognis.com
Internet: www.cognis.com
Wulf Klüppelholz, Corporate Communications Manager
Cognis Deutschland GmbH & Co. KG
Phone: +49-2173-4995-221
E-mail: wulf.klueppelholz@cognis.com
Internet: www.cognis.com