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Henkel To Sell Substral To Scotts Company
Best Known Plant Care Brand Will Change Hands On January 1, 2001
Düsseldorf (ots-PRNewswire) - The Henkel Group (Frankfurt Stock Exchange: HNKG.F) will be selling its European fertiliser and plant care brand Substral to The Scotts Company, based in Columbus, Ohio, USA, on January 1, 2001.
"Henkel is selling its Substral brand to be able to concentrate even more on its core business of detergents and household cleaners," comments Dr. Klaus Morwind, Executive Vice President Detergents/Household Cleaners at Henkel. "With Substral, Scotts is acquiring the brand best known to European consumers in the fertilisers and plant care market for pot, window box and garden plants." The Substral brand generated sales of some USD 21.7 million in 1999.
Scotts is the world-wide market leader in gardening products. The global sales of the Scotts group amounted to almost USD 1.7 billion in 1999. The target for the current year is USD 1.8 billion.
Henkel is a world-wide operating specialist in adhesives, brand-name products and in industrial specialities with affiliates in over 70 countries. Henkel is the number one producer of Adhesives, Surface Technologies and Industrial and Institutional Hygiene (jointly with Ecolab Inc.) on a world-wide scale. In Detergents it ranks second in Continental Europe and in Cosmetics Henkel holds the number three position in Europe. Cognis, the recently carved-out chemicals business is the world's leading producer of Oleochemicals. With over 56,600 employees, Henkel generated sales of 3 billion Euro in the first quarter 2000, 12.9 percent up on the same period last year. Operating profit increased by 17.6 percent to 207 million Euro.
ots Original Text Service: Henkel KGaA Internet: http://recherche.newsaktuell.de
Contact: Investor Relations Magdalena Moll Tel: +49-2 11-7 97 16 31 Fax: +49-2 11-7 98 28 63
Waltraud Müller Tel: +49-2 11-7 97 72 78 Fax: +49-2 11-7 98 28 63Original-Content von: Henkel AG & Co. KGaA, übermittelt durch news aktuell