The Hindu : Henkel bets on India, China

Online edition of India's National Newspaper
Wednesday, Dec 03, 2003

Business

Business

Henkel bets on India, China

By Our Corporate Reporter

CHENNAI DEC. 2. The German multinational Henkel expects India to be an economically driving force in Asia in the medium term and it would be focussing more in this region especially on India and China. Addressing presspersons here today, Ernst Primosch, Head of Corporate Communications, Henkel group, Germany said the Indian outfit, Henkel Spic India had made good progress in the last three years especially in the consumer products business. According to A. Satishkumar, Managing Director, Henkel Spic India, the company already received financial aid to the tune of 6-7 million euro from the German firm which was used to retire some high cost debt. This had resulted in a reduction in the interest burden of the Indian company, he said.

On the financial performance, the MD said the company had reported a turnover of Rs. 260 crores in the first three quarters of the current year ending December 31, 2003 and hoped to end the year with a turnover of Rs. 360-370 crores. The turnover was Rs. 345.23 crores last year. In the cosmetics and toiletries business, the `Fa' range of products continued to gain consumer acceptance, Mr. Satishkumar said.

In the hair-care segment, the company had successfully launched a range of products in the premium segment and entered into alliances with saloons to improve the business prospects.

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