21 March 2012 10:57 [Source: ICIS news]
LONDON (ICIS)--Brenntag expects continued growth in 2012 by improving its position in established markets and expanding its portfolio, the German chemical distributor said on Wednesday.
Brenntag said continued positive trends in the chemical distribution industry, excluding exchange rate effects, will contribute to another successful year for the company.
“Brenntag will continue its strategy to expand its value-added services portfolio, increase market shares, especially in growing markets, further improve its position in established markets, as well as its focus industries, and promote the consolidation in the fragmented chemical distribution industry,” the company said.
It added that slow but steady growth in the world economy will also help the company strengthen its financial results this year.
“One thing is certain: we are perfectly positioned to capture new opportunities with customers and suppliers who continue to rationalise their channel to market strategies and seek further reductions in complexity,” said CEO Steven Holland.
In February, Brenntag posted a surge in its profit after tax for full-year 2011 to €279.3m ($367.5m) from €146.6m in the previous year.
“When I review our initial thoughts from the beginning of 2011 for the year ahead, I suspect there are few who could have predicted some of the unprecedented events and challenges we were about to witness on a worldwide basis,” Holland said.
“Nevertheless, the Brenntag business once again proved to be resilient even in such uncertain macroeconomic times. We achieved this through an enormous effort to capture new customers and growth from challenging markets and increasing levels of efficiency.”
($1 = €0.76)
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