Henkel has no plans to break up, its chief executive told a German newspaper, adding the German consumer goods group’s current structure gave it enough flexibility to grow.
Industrials groups around the world are grappling with shareholder pressure to reduce their complexity to create value and get rid of conglomerate discounts, leading some, including General Electric and Thyssenkrupp, to restructure.
“These trends and debates come and go. But we are generally sticking to our three business areas,” Hans Van Bylen told Sueddeutsche Zeitung in an interview.
“That translates into stability and balance. At the same time, all three areas have freedom and a clear focus on their markets and customers,” he added.
More than 61 percent of Henkel’s ordinary shares are owned by members of the Henkel family share-pooling agreement, making it less vulnerable to attempts by activist shareholders to push for change.
“We are very happy about that. The family is pursuing a long-term strategy. This provides us with stability to develop the group on a long-term basis,” Van Bylen said.
By Christoph Steitz
Source: Reuters
The total contract value is approximately €430 million. The project scope of work entails complete engineering services, equipment and material supply, installation and construction activities and, as an optional part of the scope, commissioning and start up.
Once it has implemented this project, Lenzing will have biological wastewater treatment plants that meet the best available techniques (BAT) quality standard at all its production sites.
The debate over the position of hydrogen in the new energy revolution has come to the fore again thanks to Japan’s hosting of the Olympic Games. But rather than showcasing how green this miracle new fuel is, it has highlighted its many problems.
