Hoechst takes most of its Aventis costs in '99
21 January 1999 16:55 [Source: ICIS news]
LONDON (CNI)--German chemicals and pharmaceuticals group Hoechst told CNI on Thursday it plans in 1999 to take most of its costs in creating life sciences company Aventis.
Hoechst and French company Rhone-Poulenc are merging their life sciences operations into Aventis. The total cost of the restructuring is expected to be about $2bn (Euro1.73bn), which will be split equally between the companies.
A spokesman for Hoechst said that it will take the majority of its total cost of about $1bn this year. He was unable to disclose how much will be charged to the 1999 accounts.
By: Patrick Reynolds
+44 208 652 3214
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