HENKEL CLOSES ACQUISITION OF NATIONAL STARCH BUSINESSES
Henkel has taken over from Akzo Nobel the Adhesives and Electronic Materials businesses previously owned by National Starch. "This acquisition represents a milestone in our 130-plus-year corporate history and points Henkel clearly in the direction of further profitable growth," said Ulrich Lehner, chairman of the Management Board of Henkel KGaA. The acquisition was preceded by the carve-out of the businesses to be acquired by Henkel and requisite antitrust and anticompetitive investigations by the relevant authorities.
In 2007, these two business segments of National Starch generated sales of 1.25 billion GBP (about €1.83 billion). The purchase price was 2.7 billion GBP (about €3.7 billion). Following the integration, annualized sales of Henkel's Adhesives Technologies business sector will increase to about €7.5 billion. Henkel expects synergies from the acquisition of €240-260 million per year, and anticipates it will realize the full synergy potential by 2011.
"We will do everything in our power to integrate this excellent company with its outstanding employees and products quickly and smoothly," added Ulrich Lehner. Henkel will provide an update on the integration process in connection with the publication of Q1 figures on May 7, 2008.
For more information, visit www.henkelna.com.