Industry News

Cognis Iberia Absorbs Hispano Quimica

Published on 2002-03-27. Author : SpecialChem

La Seda de Barcelona, majority shareholders in Hispano Quimica, and Cognis BV have reached an agreement for the acquisition of the business of Hispano Quimica by Cognis Iberia.

Yearly volume of the business to be acquired tops 30 Million euros. The activities involved are centered on the fields of specialty chemicals for cosmetics, textiles, paints, leather treatment and auxiliaries for industrial processes.

The agreement includes the transfer of Hispano Quimica's production center at Castellbisbal to Cognis Iberia.

The transaction strengthens the strategic positioning of both parties. While the La Seda Group will focus on the development of its polyester, textile fibers and PET polymers businesses, Cognis will benefit from a stronger position in specialty chemicals on the Iberian Peninsula. In addition, the transfer of the production in Castellbisbal to Cognis will enhance opportunities to dedicate and streamline production with higher efficiencies.

The Cognis Group, recently demerged from the Henkel Group, had in 1999 sales of 2.6 Billion euros with an Operating Profit of 182 Million euros. Cognis employs 10,000 people in its three divisions Oleochemicals, Care Chemicals and Organic Specialties. The most important customer groups include the Detergent and Cleaning Industries, the Cosmetic Industry as well as a number of industrial users in markets such as Nutrition and Health, Coatings and Inks, Textile and Plastics.

The La Seda Group, formerly a part of the Akzo Nobel, is headquartered in Barcelona and achieved a 1998 volume of better than 200 Million euros, manufacturing mainly with synthetic fibres and PET polymers.

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