Cheminova Buys Stake In Stahler
20 December 2007 The release also notes that both companies come to the partnership with interesting products registered and in their pipelines, planned for introduction during the coming years.
The Stähler family and Cheminova have enjoyed business relations for decades, with Stähler acting as the main distributor for Cheminova in Germany and Cheminova distributing Stähler products in Spain. The new partnership will strengthen and expand this cooperation to more products and additional European markets. “The Stähler companies have very strong positions in the German, Austrian, and Swiss markets, and we need to secure access to these important markets,” says Kurt Pedersen Kaalund, executive vice president of Cheminova.
“A special chance for the future combined business is the possibility to introduce new sustainable specialties using Stähler’s and Cheminova’s compounds,” notes Dr. Ernst-August Stähler, CEO of Stähler Group.
New products are currently being developed or already registered by Stähler, and the distribution of these products in other European markets shall in the future be supported by Cheminova in markets such as France, Italy, Spain, the United Kingdom, Poland, and Hungary. “By being directly present in the key markets, the successful introduction of the new Stähler products is secured through the partnership with Cheminova”, says Dr. Stähler.
A number of synergies are available in other areas as well, the release notes. “Stähler operates world-class formulation and packaging plants in Germany and Italy. The addition of Cheminova volumes to these sites shall substantially improve capacity utilization and operational efficiency while improving Cheminova’s logistics service to customers throughout Europe,” Pedersen Kaalund explains. Other synergies in purchasing of raw materials and services shall also be available, while the number of staff in both Stähler and Cheminova is expected to remain unchanged.
The management of the Stähler companies remains unchanged, with family members Dr. Olaf Stähler, Alexander Stähler, and Dr. Ralph Stähler and other key managers in place. A representative from Cheminova, Mr. Jens Thorsen, shall join the management group to focus on achieving the synergies and relations between the companies.
The finalization of the transaction is expected following approval by the relevant competition authorities in January 2008.
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