Keywords
Citation
(1999), "Hoechst is to sell coatings manufacturer Herberts", Pigment & Resin Technology, Vol. 28 No. 1. https://doi.org/10.1108/prt.1999.12928aab.006
Publisher
:Emerald Group Publishing Limited
Copyright © 1999, MCB UP Limited
Hoechst is to sell coatings manufacturer Herberts
Hoechst is to sell coatings manufacturer Herberts
Keywords Herberts, Hoechst
Hoechst AG has announced it has reached an agreement in principle to sell Herberts GmbH, Wuppertal, the coatings company of the Hoechst Group, for DM3 billion to the investment firm Kohlberg Kravis Roberts & Co. (KKR).
Herberts is one of the world's leading manufacturers of technologically advanced and ecologically friendly coating systems used mainly in the automotive industry. Herberts is currently the largest European supplier of coating systems. In 1997, the Herberts Group had sales of DM2.7 billion and approximately 7,500 employees. KKR will acquire Herberts including all its subsidiaries and affiliates in Germany and abroad, and intends to expand the company's leading international market position by playing an active role and investing further in this sector.