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Henkel increases stake in Henkel Soad Ltd., Israel
Düsseldorf (ots-PRNewswire) - Henkel acquires the remaining 50 per cent interest in Henkel Soad Ltd., located in Haifa, Israel, from Shemen Industries Ltd. The purchase price for the 50 percent stake amounts to 27.8 million Euro.
Henkel Soad is a leading manufacturer of detergents and cosmetics/toiletries. The company markets the two main brands Hawai and Soad. Objective of the acquisition is to expand Henkel's market position in Israel and thus strengthen the presence in the Near East. In 1999, Henkel Soad Ltd. generated sales of 45 million Euro.
The transaction is still subject to the approval of the Shareholders' Committee.
Henkel is a worldwide operating specialist in adhesives, brand-name products and in industrial specialties with affiliates in over 70 countries. The Company is the market leader in Adhesives, Surface Technologies and Industrial and Institutional Hygiene (jointly with Ecolab Inc.) on a worldwide 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 17.3 percent to 207 million Euro.
ots Original Text Service: Internet: Henkel KGaA
Contact: Investor Relations: Magdalena Moll +49-211-7 9716 31 Fax: +49-2 11-798
Christoph Wallrafen +49-2 11-797 1820 2863 Fax: +49-2 11-798 2863Original-Content von: Henkel AG & Co. KGaA, übermittelt durch news aktuell