18 January 2000 08:24 [Source: ICIS news]
SINGAPORE (CNI)--Degussa-Hüls, the German chemicals and pharmaceuticals group, has sold its chemicals logistics and service group, Neuber GmbH of Vienna, Austria, to Brenntag, a subsidiary of logistics major Stinnes, CNI learned Tuesday.
Degussa-Hüls director Jörn Rüter said: "Through this sale, we have further optimised the Degussa-Hüls portfolio and continue to pursue our commitment to concentrate on high growth chemical activities with globally leading positions." Neuber was no longer part of those core activities, he added.
Neuber has 19 sites and is the market leader in Austria and Poland. It also has leading positions in Croatia, Slovakia, the Czech Republic and Hungary. Sales in the 1999 fiscal year were about Euro210m ($212m).
In the past few months, Degussa-Hüls has divested businesses with annual sales of more than Euro500bn.
The Precious Metals, Automotive Catalysts and Cerdec (a ceramic pigments producer) divisions have been bundled into a new subsidiary, Degussa Metals Catalysts, which started business on 1 January 2000. Degussa-Hüls now has 13 divisions, down from 16.
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