l GERMANY: Cognis, Düsseldorf, announced the sale of its fragrances and specialties business (Cognis F&S) to Kao Chemicals, Tokyo, Japan. Cognis divested the business to concentrate on its core activities, according to company executives. Kao will incorporate the business into its aroma chemicals and fragrance division.
“This acquisition will enhance profitability of Kao’s aroma chemicals business and benefit overall activities in our chemical products division toward achievement of profitable growth,” said Takuya Goto, president and chief executive officer, Kao Corp.
Consolidated net sales from the business are expected to reach about 120 million euro.