| Henkel Acquires National Starch |
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| Written by Mike Buetow | |||
| Thursday, 03 April 2008 08:09 | |||
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LAS VEGAS – Henkel today acquired National Starch in an all-cash deal worth 3.8 billion euros.
Alan Syzdek of National Starch was named corporate senior vice president and head of the division, while president Pat Trippel was offered another position within Henkel. The acquired businesses had sales of about 1.85 billion euros in 2006, Henkel said. The merged adhesives groups make up 44% of Henkel’s $13 billion in sales. The acquisition is expected to generate 240 million to 260 million euros in synergies and raise Henkel’s sales by 2 billion euros a year. The deal also raises Henkel’s adhesives profile in Asia, increasing that region’s share of the division’s revenues to 12% from 8%. In a press conference today, Henkel electronics global marketing manager Doug Dixon said the merged units “would expect some synergies immediately,” particularly in the areas of mold compounds and die attach. In light of the heavy balance of adhesives that now makes up Henkel Electronics, Dixon reiterated the company’s solder paste and spheres lines as a core business, saying there are no plans to divest those groups. The deal was finalized this morning, and Dixon said that while the two units share some distributors, Henkel was not prepared to disclose its plans for its sales channels.
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| Last Updated on Friday, 04 April 2008 06:22 |
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