Manufacturing Industry
Kao to acquire Cognis' fragrance business.(Kao Corporation)(Brief Article)
Cosmetics International, March, 2003
Japan's Kao Corporation is set to acquire German company Cognis' aroma chemicals and fragrance compounds division. Estimated at 36m [euro], the acquisition is expected to be completed in April 2003 upon approval by the relevant authorities. This move will place chemicals as Kao's third core business alongside consumer products and cosmetics.
"The synergetic effects with the existing aroma chemicals business will enhance profitability of .the Group's aroma chemical business and benefit overall business activities in Kao's chemical products division," a Kao statement says.
The acquisition covers Cognis' overall fragrances and specialty chemicals business, including goodwill, technologies, and intellectual property. An important technology Kao will gain...
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