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Cognis and Golden Hope Joint Venture Completed
Posted: February 20, 2006Cognis Deutschland GmbH & Co. KG and Golden Hope Plantations Berhad announced that the transfer of Cognis’ global oleochemicals and plastics technology businesses to the existing 50:50 joint venture between the two companies, Cognis Oleochemicals (M) Sdn. Bhd., has now been completed.
The businesses added to the joint venture (fatty acids, glycerin, oilfield chemicals, azelaic acid and pelargonic acid, and plastics technology) employ approximately 750 people, and generate annual revenues (including sales to Cognis) of around €570 million. Cognis and Golden Hope will continue to hold equal stakes in the expanded joint venture.