Global specialty chemicals company Cognis reported first quarter sales rose 1.7% to $1.1 billion. On organic terms, excluding foreign currency effects and effects of acquisitions of Cosmetic Rheologies (March 2006) and Napro Pharma (May 2006), sales grew 4.6%. Almost all strategic business units contributed to this growth.
Care Chemicals, the company’s largest sales by strategic business unit (SBU), posted a 2.4% increase to $485 million.
“We had a satisfactory performance in the first quarter both in sales and profit,” said Cognis Chief Executive Officer Dr. Antonio Trius. “Higher margin products and higher volumes at our strategic business units care chemicals and functional products, and a successful cost management were important drivers for our solid growth.On the other hand, increased raw material prices and unfavorable hard currency issues had an impact on our earnings.”