Stinnes reorganises US chem business under 6 regional firms

03 September 2001 11:21  [Source: ICIS news]

LONDON (CNI)--German logistics group Stinnes said on Monday it has reorganised its US chemicals distribution business into six regional companies, following the acquisition last year of Holland Chemical International (HCI).

These six companies are located in the north east (headed by Anthony Gerace), midsouth (Roger Gilbert), south west (Kevin Kessing), south east (Gil Steadman), west (Bill Huttner) and Great Lakes (Cindy Cox).

A Stinnes spokesman said his company integrated the sites of chemicals distribution subsidiary Brenntag with those of HCI, thereby reducing administration and management costs. The process should be completed by the end of the year, he added.

The spokesman did not reveal the amount of cost savings achieved or comment on the possibility of any potential job cuts. In June, Stinnes chief executive Wulf Bernotat said that total savings for Stinnes worldwide will be around Euro18m ($16.4m) for 2002, rising to Euro20m a year from 2003, as a result of acquiring HCI. Stinnes employs about 8000 people in the US.

Bernotat said: "Multinational customers are increasingly concentrating their global purchasing and distribution operations in the hands of a single logistics service provider and our chemicals division is now perfectly designed to meet their requirements."

By: Russell Ong
+44 208 652 3214

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