Cognis Opens New Affiliate In Malaysia
1/5/2010 1:01:18 PM
Monheim, Germany, January 5, 2010
On January 1, 2010, specialty chemicals supplier Cognis opened an affiliate in Selangor, Malaysia. Cognis Malaysia Sdn. Bhd. is a wholly owned subsidiary of the Cognis Group. The aim is to accelerate the group’s growth in the region by improving the level of service it offers to customers there. The decision to open an affiliate in Malaysia reflects the country’s strategic importance to Cognis.
The Asia-Pacific region is now Cognis’ third biggest market after Europe and North America, so it was a logical step for the company to devote more resources to its operations in this region. The founding of a dedicated Malaysian affiliate is in keeping with the company’s focus on high-growth markets driven by the wellness and sustainability trends. It represents a significant milestone in Cognis’ activities in the Malaysian market, which has experienced rapid growth in recent years. Cognis Malaysia will employ technical and commercial managers to work on behalf of all three of the company’s strategic business units – Care Chemicals, Nutrition & Health, and Functional Products.
Jimmy Lau, Legal Representative of Cognis Malaysia, comments: “We believe that Malaysia and the whole Asia-Pacific region has significant growth potential that is fully in line with Cognis’ strategy. By opening an affiliate in Malaysia, we want to gain a deeper understanding of the local market and be closer to our customers. We aim to double Cognis’ sales in Malaysia over the next five years by helping our customers to gain the competitive edge they need to succeed.”
Cognis is a worldwide supplier of innovative specialty chemicals and nutritional ingredients, with a particular focus on the areas of wellness and sustainability. The company employs about 5,600 people, and it operates production sites and service centers in 30 countries. Cognis has dedicated its activities to a high level of sustainability and delivers natural source raw materials and ingredients for food, nutrition and healthcare markets, and the cosmetics, detergents and cleaners industries. Another main focus is on products for a number of other industries, such as coatings and inks, lubricants, as well as agriculture and mining.
Cognis is owned by private equity funds advised by Permira, GS Capital Partners, and SV Life Sciences. In 2008, Cognis recorded sales of about 3 billion euros and an Adjusted EBITDA (operating result) of 351 million euros.
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