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Cognis To Sell Production Site In England
Roermond/Duesseldorf (ots-PRNewswire) - In the course of its restructuring program for Europe, the Management of the specialty chemicals company Cognis has decided to sell its production site in Leeds, UK. According to Cognis' Management, this move was primarily prompted by the company's policy of concentrating on its core businesses.
In early May there will be a management buyout for the Leeds-based company. It will continue to operate as eChem Ltd headed by a competent management team under the leadership of Dr. Ron Bennett. Dr. Bennett is the former General Manager of Henkel UK.
Customers Can Rely On Smooth Transition
Although production levels in Leeds will be reduced, Cognis stresses that long-standing business relationships will continue as before. eChem Ltd will remain an official distributor for Henkel/Cognis, with cooperation agreements being signed to this effect. The new management will be handling sales of a series of Cognis products for the plastics and coatings industries in the United Kingdom and Ireland. The Leeds site will also remain available for licensed production.
Up to now, Cognis has supplied products and solutions to the binders, paints & coatings and printing inks sectors as well as the plastics, textile, food, agricultural and general chemical industries from its Leeds site.
The Cognis Group, which has been established as a separate legal subsidiary of the Henkel Group since August 1999, recorded sales of Euro 2.6 billion in 1999, and an operating profit of Euro 182 million. Cognis is a worldwide leader in specialty chemicals with almost 9,000 employees in close to 50 countries on all five continents. Oleochemicals, Care Chemicals, and Organic Specialties are the three pillars of the specialty chemicals portfolio. The most important clients are in the detergents and cleaners industry, the cosmetics industry, and a number of other industrial markets such as health and nutrition, coatings and inks, textiles, and plastics.
ots Original Text Service: Henkel KGaA Internet: http://recherche.newsaktuell.de
Magdalena Moll Waltraud Müller
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