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Henkel's adhesives business achieved sales growth in third quarter

October 15/2020

MOSCOW (MRC) -- Henkel has provided a business update for the third quarter and says that, based on preliminary figures, its adhesive technologies business unit achieved positive organic sales growth of 1.3% in the quarter, said Chemweek.

All business areas in adhesive technologies showed a recovery in demand compared with the second quarter, the company says. Henkel notes that in the first nine months of 2020, adhesive technologies recorded a 6.8% decline in organic sales.

Despite the continued challenging economic environment as a result of the corona crisis, based on preliminary sales figures, Henkel delivered a strong organic sales growth of plus 3.9% in the third quarter. Sales reached around EUR5.0 billion [USD5.9 billion] and all business units contributed to the good performance, says Carsten Knobel, CEO at Henkel.

Based on the preliminary business performance in the first nine months, Henkel has provided new guidance for 2020, following the withdrawal of its full-year guidance in April due to the high level of uncertainty caused by the COVID-19 pandemic.

For the adhesive technologies business, which is significantly impacted by a sharp decline in general industrial demand such as in the automotive industry, Henkel anticipates organic sales growth in the range of 5.5-6.5%, and an EBIT margin in the range of 14.5-15.0%. Henkel will publish its third-quarter results on 10 November.

As MRC informed earlier, Henkel AG & Co. KGaA (Dusseldorf, Germany) announced that Henkel Adhesives Technologies has officially inaugurated its new production facility in Kurkumbh, India.

Henkel are also partnering with Borealis and plastics solutions company Borouge to develop  flexible packaging solutions for detergents containing both virgin polyethylene (PE) and high amounts of post-consumer recyclate (PCR) in efforts to increase sustainability.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,496,500 tonnes in the first eight months of 2020, up by 5% year on year. Shipments of all ethylene polymers increased, except for linear low desnity polyethylene (LLDPE). At the same time, PP shipments to the Russian market reached 767,2900 tonnes in the eight months of 2020 (calculated using the formula - production minus exports plus imports - and not counting producers' inventories as of 1 January, 2020). Supply increased exclusively of PP random copolymer.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, PP, PE, petrochemistry, packaging, Henkel.
Category:General News
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