Following Henkel's acquisition of 50% of Sod Shemen and the
establishment of a joint company in the toiletries field.
Koor General Manager Benny Gaon said today the Koor
Concern and the German company Henkel will also cooperate
in the field of glues and chemicals.
A signing ceremony was held at Koor today to formalise
the $7.5 million sale of 50% of Sod Shemen, which is under
the ownership of Koor, to Henkel.
In the framework of common ventures, a joint detergents
and toiletries company "Henkel Sod" was established. Gaon
said that following the deal with Shod Shemen, Henkel sees
Koor as its strategic partner in Israel.
"We'll also cooperate in other areas in which Henkel
deals, but we'll do so in stages," he said.
Koor intends setting up toiletries and chemicals
production systems in which Henkel has the reputation of
being the leading company in the world market. Chemicals
make up 28% of Henkel's total operations. Glues make up
15%. Henkel's volume of activities in 1995 stood at some
$10 billion, of which $360 million was profit. Henkel has
strategic partnerships with 214 plants in 54 countries.