Journal of Austrian Chemistry

Journal for the Chemical Industry in Austria

Finance

Endress+Hauser shows Growth in 2018

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Endress+Hauser’s business developed very positively across all regions and industries in 2018. The Group, one of the world’s leading providers of process and laboratory instrumentation, automation solutions and services, reports new highs in net sales, income and employment.

Dr. Luc Schultheiss, CFO Endress+Hauser. | Credit: Endress+Hauser

According to preliminary figures, Endress+Hauser increased net sales by more than 9 percent to over 2.4 billion euros in 2018. Exchange rate effects prevented even better results. “In local currencies, we grew nearly 13 percent,” said Chief Financial Officer Dr Luc Schultheiss. The family-owned company created new jobs primarily in production, research and development and services. At the end of 2018, Endress+Hauser had 13,928 employees worldwide, 629 more than the year before.

Matthias Altendorf, CEO Endress+Hauser | Credit: Endress+Hauser

“The solid development in sales shows that we have held our ground well in the market,” explained CEO Matthias Altendorf. The growth was spurred by innovations from across all fields of activity. “We supported our customers with more than 50 new products, solutions and services. We were able to break new ground through our digitalization strategy, as well as in the measurement and analysis of quality-relevant parameters,” said the Group’s CEO.

New year with a good start

Endress+Hauser is expecting a somewhat weaker market dynamic for the current year. The Group is anticipating growth in the mid single-digit range, with earnings remaining at a healthy level. “The year has gotten off to a good start so far,” reported Luc Schultheiss. Assuming the business remains well on track, the Group expects to create several hundred new jobs around the world. Endress+Hauser will present its 2018 audited financial figures on 14 May 2019 in Basel, Switzerland.

Solenis and BASF Complete Merger of Paper and Water Chemicals Businesses

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Following the approval of all relevant authorities, BASF and Solenis have completed the previously announced merger of BASF’s wet-end Paper and Water Chemicals business with Solenis. With pro forma sales of approximately U.S. $3 billion, the combined company will operate under the Solenis brand and is positioned to provide expanded chemical offerings and cost-effective solutions for customers in pulp, paper, oil and gas, chemical processing, mining, biorefining, power, municipal and other industrial markets.

BASF will own 49 percent of the combined company and 51 percent is collectively owned by Solenis management and funds managed by Clayton, Dubilier & Rice (CD&R). The new Solenis has approximately 5,200 employees, with increased sales, service and production capabilities across the globe.

Solenis Logo

The merger includes the Paper and Water assets of BASF’s Performance Chemicals unit, including production sites in Bradford and Grimsby, UK; Suffolk, Virginia, USA; Altamira, Mexico; Ankleshwar, India; and Kwinana, Australia and related assets including intellectual property. BASF’s paper coating chemical business is not part of the transaction.

“Combining our strong heritages creates the leading customer-focused, global solutions provider for the paper and water industries. Customers from these industries will benefit from our joint strengths, resulting in an unparalleled and complementary range of products and services, state-of-the-art innovations and know-how,” said John Panichella, president and CEO, Solenis.

“Joining forces with Solenis is the right step for BASF’s Paper and Water Chemicals business to maintain sustainable growth. Together, we will provide the broadest scope of products and services to meet the specialty chemical needs of the global paper and water industry,” added Anup Kothari, president of BASF’s Performance Chemicals division. “Bringing together these two highly successful and complementary businesses creates an even stronger global enterprise with enhanced prospects for long-term growth and value creation,” said David Scheible, chairman of Solenis and operating advisor to CD&R.