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Brenntag to become part of Germany leading stock index

September 09/2021

MOSCOW (MRC) -- Brenntag, the global market leader in chemicals and ingredients distribution, will be included in the DAX on September 20, 2021. Brenntag will thus become part of Germany's leading stock index, the composition of which has been expanded from 30 to 40 companies as part of a reform, as per the company's press release.

Christian Kohlpaintner, Chief Executive Officer Brenntag SE, said: УWe are delighted about our inclusion in the expanded DAX. It is an acknowledgment for our achievements and the successful development of our company in recent years. We are proud of this. This success would not have been possible without our more than 17,000 employees. We would therefore like to take this unique moment to thank them for their outstanding commitment and performance. Our thanks also include our investors. Their trust is another important motivator for us.Ф

The DAX expansion is accompanied by a comprehensive reform: from now on, a company's free float market capitalization as a main indicator determines its inclusion in the index. A criterion that Brenntag safely meets. The Brenntag share has been listed in the MDAX on the Frankfurt Stock Exchange since 2010. During this time, the company's market capitalization has quadrupled and amounts today to more than EUR13 billion.

Brenntag's objective and strategic focus is to consistently expand its position as the global market leader in chemicals and ingredients distribution.

As MRC reported earlier, this summer, Brenntag acquired all operating assets and business of Matrix Chemical, LLC. The company is a solvents distributor and the largest distributor of acetone in North America with sales of around USD 200 million year to date in 2021.

Along with phenol, acetone is largely used to produce bisphenol A (BPA), which, in its turn, is used in the production of plastics such as polycarbonate (PC) and epoxy resins.

According to MRC's ScanPlast report, Russia's overall estimated consumption of PC granules in the Russian market were almost 56,000 tonnes in January-July 2021, down by 3% year on year (58,000 tonnes).
Author:Margaret Volkova
Tags:Europe, North America, bisphenol a, PC, acetone, phenol, sheet extrusion, petrochemistry, adhesives, Brenntag, Germany.
Category:General News
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