Degussa hails 'good start'
15 Jan 2000
German chemicals and healthcare group Degussa is celebrating its 125th anniversary this year, and expects to achieve record results, according to its chief executive, Uwe-Ernst Bufe.
The year will be particularly marked by the influence of conglomerate VEBA, which is now a major shareholder. 'We are open about a fusion with Huls, the VEBA chemicals subsidiary,' he commented (see below). Both Degussa and VEBA agree, however, that Degussa will remain an independently-quoted company.
In the last fiscal year, Degussa posted pre-tax profits up 27 per cent on 1995/6, to DM523 million, on sales up 11 per cent at DM15.3billion the group's best ever results, said Bufe. The precious metals and minerals business, which had been DM27 million in the red, turned a profit of DM69 million; while earnings in the health and nutrition segment increased by 8 per cent to DM244 million. Chemical products sales increased by 13 per cent, to DM4.3billion, while profits grew 7 per cent to DM317 million.
