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Unilever sells Sanex toiletries brand
FOCUS Middle East & Africa accounted for 46%, the Americas 28%, and Asia Pacific 26%. Main products were: cellulosic additives, chelates, additives for the mortar industry, ethyleneamines, salt specialties, sulfur derivatives, and polymer chemicals. Key markets: detergents, personal care, crop protection, micronutrients, building materials, paint, pharmaceutical, and food. There is discussion of the business and of the results, including an overview, analysis, highlights, and developments.
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S U R FA C TA N T S
COMPANY NEWS Henkel 2010: subsequent events
For fiscal 2010 (period ended 31 Dec 2010), the Elementis Surfactants segment of Elementis plc reported sales of $88.1 M ($76.3 M for fiscal 2009) and operating profit of $6.1 M ($0.1 M). There is discussion of the business and of the results, including an overview and financial analysis.
With effect from 1 Jan 2011, Henkel AG & Co KGaA acquired 100% of the shares in Schwarzkopf Inc, Culver City, CA, and has included it within the scope of consolidation from that date. Until the end of 2010, Henkel operated its hair salon business in the US using the well-known Schwarzkopf Professional brands on the basis of a license agreement. Effective 11 Jan 2011, Henkel completed the disposal of a non-core portion of its building adhesives business in South Korea. The assets recognized as held for sale at the time of the divestment have been transferred to the purchaser. Together with cooperation partner Sandoz, Henkel has decided, as of the end of 2012, to end the joint venture Biozym in Kundl, Austria, founded in 1984, and to close down the enzyme manufacturing operations there. This action is in line with changing market conditions relating to both quality and price. The employees affected were informed of this decision on 17 Jan 2011. The company has decided to transfer detergent tablet production for machine-dishwashing applications back to its plant in Duesseldorf-Holthausen, Germany, and have therefore given notice of termination of the associated toll manufacturing contract. Henkel intends to invest around €25 M between now and Feb 2012 in order to establish the required tablet manufacturing capability for machinedishwashing products at the Duesseldorf-Holthausen site. The company informed the appropriate works committees of this decision in mid-Jan 2011. At the end of Jan 2011, Henkel ended its production of the bleach activator TAED in Cork, Ireland, selling the associated business to an investor. TAED (tetraacetylethylenediamine) is a laundry detergent additive designed to boost bleaching performance. The investor taking over the plant will continue supplying Henkel with TAED.
Elementis Preliminary Results 2010, 1 Mar 2011, 7,9 (Elementis plc, 10 Albemarle Street, London W1S 4HH, UK, tel: +44 20 7408 9300, fax: +44 20 7493 2194, website: http://www.elementisplc.com/)
Henkel Annual Report 2010, 24 Feb 2011, 86 (Henkel AG & Co KGaA, Henkelstrasse 67, 40589 Duesseldorf, Germany, tel: +49 211 7970, fax: +49 211 798 4008, website: http://www.henkel.com)
AkzoNobel Annual Report 2010: A year of delivering Tomorrow’s Answers Today, 24 Feb 2011, (AkzoNobel, Strawinskylaan 2555, PO Box 75730, 1070 AS Amsterdam, the Netherlands, tel: +31 20 502 7555, fax: +31 20 502 7666, website: http://www.akzonobel.com)
Henkel 2010: laundry & home care For fiscal 2010, the laundry & home care segment of Henkel AG & Co KgaA reported sales of €4319 M (€4129 M for fiscal 2009), Ebit of €542 M (€501 M), and capital expenditure of €83 M (€151 M). There is extensive and detailed discussion of the business and of the results, including innovations in 2010 (new products launched), economic environment and market position, business activity and strategy, sales and profits, business segments (laundry care, home care, geographical information), capital expenditure, and outlook. Henkel Annual Report 2010, 24 Feb 2011, 4,66-69 (Henkel AG & Co KGaA, Henkelstrasse 67, 40589 Duesseldorf, Germany, tel: +49 211 7970, fax: +49 211 798 4008, website: http://www.henkel.com)
Elementis: preliminary results for the year ended 31 Dec 2010: Elementis Surfactants
MAY 2011
Additives: Lubrizol acquired by Berkshire Hathaway Berkshire Hathaway is acquiring Lubrizol for $9.7 bn (€6.9 bn), which includes $0.7 bn of debt. It is one of the holding company’s largest purchases and represents a premium of 28% on Lubrizol’s 11 Mar 2011 share price. Lubrizol expands Berkshire Hathaway’s chemical sector portfolio. The deal is scheduled for completion in 3Q 2011. However, a counterbid is thought unlikely. Lubrizol had a turnover of $5.42 bn in 2010 (+18%). Its additives division (70% of total activities) covers lubricants and fuel additives. The advanced materials division focuses on performance coatings (binders and additives), ingredients for personal care products and pharmaceuticals (rheological modifiers, thickeners, surfactants) as well as polymers and elastomers. Chimie Pharma Hebdo, 22 Mar 2011, (543), 8 (in French)
Unilever sells Sanex toiletries brand Unilever is selling its Sanex toiletries brand to Colgate-Palmolive for €672 M. The segment in question had sales of €187 M in 2010. EU competition authorities had required Unilever to sell Sanex in order to be able to acquire US consumer goods company Sara Lee for $1.3 bn. The deal also involves Unilever buying Colgate’s detergent brand in Colombia for $215 M. The European company will thus strengthen its position in Latin America in particular. Sanex products, including shower gels and deodorants, generated a net turnover of €187 M in 2010, principally in Western Europe. Colgate expects the two transactions to increase its profit by 4% in 2010 thanks to an accounting profit from divesting the washing product activities. It also expects that the takeover of Sanex will boost its profit by around 1% in 2012. According to the analysts SNS Securities, Unilever has gained an attractive position in the Colombian washing products market, where it is now the market leader. Nachrichten fuer Aussenhandel, 23 Mar 2011, (Website: http://www.nfa-online.de) (in German) & Het Financieele Dagblad, 23 Mar 2011, (Website: http://www.fd.nl/) (in Dutch) & Handelsblatt Wirtschafts- und Finanzzeitung, 24 Mar 2011, (59), 28 (Website: http://www.handelsblatt.com) (in German) & Het Financieele Dagblad, 24 Mar 2011, (Website: http://www.fd.nl/) (in Dutch)
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ON
S U R FA C TA N T S
COMPANY NEWS Henkel 2010: subsequent events
For fiscal 2010 (period ended 31 Dec 2010), the Elementis Surfactants segment of Elementis plc reported sales of $88.1 M ($76.3 M for fiscal 2009) and operating profit of $6.1 M ($0.1 M). There is discussion of the business and of the results, including an overview and financial analysis.
With effect from 1 Jan 2011, Henkel AG & Co KGaA acquired 100% of the shares in Schwarzkopf Inc, Culver City, CA, and has included it within the scope of consolidation from that date. Until the end of 2010, Henkel operated its hair salon business in the US using the well-known Schwarzkopf Professional brands on the basis of a license agreement. Effective 11 Jan 2011, Henkel completed the disposal of a non-core portion of its building adhesives business in South Korea. The assets recognized as held for sale at the time of the divestment have been transferred to the purchaser. Together with cooperation partner Sandoz, Henkel has decided, as of the end of 2012, to end the joint venture Biozym in Kundl, Austria, founded in 1984, and to close down the enzyme manufacturing operations there. This action is in line with changing market conditions relating to both quality and price. The employees affected were informed of this decision on 17 Jan 2011. The company has decided to transfer detergent tablet production for machine-dishwashing applications back to its plant in Duesseldorf-Holthausen, Germany, and have therefore given notice of termination of the associated toll manufacturing contract. Henkel intends to invest around €25 M between now and Feb 2012 in order to establish the required tablet manufacturing capability for machinedishwashing products at the Duesseldorf-Holthausen site. The company informed the appropriate works committees of this decision in mid-Jan 2011. At the end of Jan 2011, Henkel ended its production of the bleach activator TAED in Cork, Ireland, selling the associated business to an investor. TAED (tetraacetylethylenediamine) is a laundry detergent additive designed to boost bleaching performance. The investor taking over the plant will continue supplying Henkel with TAED.
Elementis Preliminary Results 2010, 1 Mar 2011, 7,9 (Elementis plc, 10 Albemarle Street, London W1S 4HH, UK, tel: +44 20 7408 9300, fax: +44 20 7493 2194, website: http://www.elementisplc.com/)
Henkel Annual Report 2010, 24 Feb 2011, 86 (Henkel AG & Co KGaA, Henkelstrasse 67, 40589 Duesseldorf, Germany, tel: +49 211 7970, fax: +49 211 798 4008, website: http://www.henkel.com)
AkzoNobel Annual Report 2010: A year of delivering Tomorrow’s Answers Today, 24 Feb 2011, (AkzoNobel, Strawinskylaan 2555, PO Box 75730, 1070 AS Amsterdam, the Netherlands, tel: +31 20 502 7555, fax: +31 20 502 7666, website: http://www.akzonobel.com)
Henkel 2010: laundry & home care For fiscal 2010, the laundry & home care segment of Henkel AG & Co KgaA reported sales of €4319 M (€4129 M for fiscal 2009), Ebit of €542 M (€501 M), and capital expenditure of €83 M (€151 M). There is extensive and detailed discussion of the business and of the results, including innovations in 2010 (new products launched), economic environment and market position, business activity and strategy, sales and profits, business segments (laundry care, home care, geographical information), capital expenditure, and outlook. Henkel Annual Report 2010, 24 Feb 2011, 4,66-69 (Henkel AG & Co KGaA, Henkelstrasse 67, 40589 Duesseldorf, Germany, tel: +49 211 7970, fax: +49 211 798 4008, website: http://www.henkel.com)
Elementis: preliminary results for the year ended 31 Dec 2010: Elementis Surfactants
MAY 2011
Additives: Lubrizol acquired by Berkshire Hathaway Berkshire Hathaway is acquiring Lubrizol for $9.7 bn (€6.9 bn), which includes $0.7 bn of debt. It is one of the holding company’s largest purchases and represents a premium of 28% on Lubrizol’s 11 Mar 2011 share price. Lubrizol expands Berkshire Hathaway’s chemical sector portfolio. The deal is scheduled for completion in 3Q 2011. However, a counterbid is thought unlikely. Lubrizol had a turnover of $5.42 bn in 2010 (+18%). Its additives division (70% of total activities) covers lubricants and fuel additives. The advanced materials division focuses on performance coatings (binders and additives), ingredients for personal care products and pharmaceuticals (rheological modifiers, thickeners, surfactants) as well as polymers and elastomers. Chimie Pharma Hebdo, 22 Mar 2011, (543), 8 (in French)
Unilever sells Sanex toiletries brand Unilever is selling its Sanex toiletries brand to Colgate-Palmolive for €672 M. The segment in question had sales of €187 M in 2010. EU competition authorities had required Unilever to sell Sanex in order to be able to acquire US consumer goods company Sara Lee for $1.3 bn. The deal also involves Unilever buying Colgate’s detergent brand in Colombia for $215 M. The European company will thus strengthen its position in Latin America in particular. Sanex products, including shower gels and deodorants, generated a net turnover of €187 M in 2010, principally in Western Europe. Colgate expects the two transactions to increase its profit by 4% in 2010 thanks to an accounting profit from divesting the washing product activities. It also expects that the takeover of Sanex will boost its profit by around 1% in 2012. According to the analysts SNS Securities, Unilever has gained an attractive position in the Colombian washing products market, where it is now the market leader. Nachrichten fuer Aussenhandel, 23 Mar 2011, (Website: http://www.nfa-online.de) (in German) & Het Financieele Dagblad, 23 Mar 2011, (Website: http://www.fd.nl/) (in Dutch) & Handelsblatt Wirtschafts- und Finanzzeitung, 24 Mar 2011, (59), 28 (Website: http://www.handelsblatt.com) (in German) & Het Financieele Dagblad, 24 Mar 2011, (Website: http://www.fd.nl/) (in Dutch)
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