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Henkel to buy Colgate's Mexican heavy duty detergents business
Düsseldorf (ots-PRNewswire) - Henkel, one of Europe's leading producers of detergents, is to acquire Colgate-Palmolive's Mexican Heavy Duty Detergents business, effective January 1, 2001. The sale covers all heavy-duty laundry detergents and laundry bars under the Viva trademark in Mexico, the related intellectual property and selected tangible production assets. Total sales of the business amount to about 76 million US dollar (83 million euro). "This important step significantly improves our market position in Mexico. Henkel's financial strengths and detergent technology will help make the Viva brand an even more important competitive force in the markets", said Dr. Klaus Morwind, Executive Vice President Detergents/Household Cleaners of Henkel KGaA. Mexico is the second largest detergents market in Latin America and is therefore an integral part of Henkel's strategy to increase its presence in this region. This sale allows Colgate to redirect resources toward its core categories in Mexico. To ensure a smooth handover of the Viva brands, Colgate Mexico will provide Henkel with marketing, selling, and logistics support for these products during a brief transition period. 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 60,000 employees, Henkel generated sales of 9.4 billion euro in the first nine months of 2000, 12.1 per cent up on the same period last year. Operating profit increased by 11.3 percent to 704 million euro.
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