News Flash

Cognis reports flagging textile technology revenues

22 Aug '05

3 min read

Functional Products achieved total sales of 401 million euros, an increase of 2.4 percent. This development was mainly driven by the continued sales growth of Synlubes products for the transportation markets, especially in the US, and by growth in the mining technology business resulting from a strong copper market.

Sales of Process Chemicals in the first two quarters totaled 179 million euros, down 17.6 percent on the same period in 2004. The major factor for this was the divestment of the PVC stabilizers business, which came into effect on July 1, 2004. On an organic basis, sales decreased by 7.0 percent, largely as a result of a drop in revenues from the Textile Technology business.

Oleochemicals sales continued their upward trend, rising 6.0 percent to 224 million euros. This growth was mainly driven by higher sales for fatty acids. Oilfield chemicals reported higher sales specifically in the second quarter.

Leading specialty chemicals company Cognis employs about 8,100 people, and it operates production sites and service centers in 30 countries. Cognis has dedicated its activities to a high level of sustainability and delivers natural source raw materials and ingredients for food, nutrition and healthcare markets, and the cosmetics, detergents and cleaners industries. Additionally, Cognis provides solutions for a number of other industries, such as coatings and inks, lubricants, textiles and plastics, as well as agriculture and mining.

cognis

More cognis News... More Textiles News - Germany...