GERMANY: STO SEEKING GROWTH ABROAD

Article Abstract:

After having taken over Tricolor of Zofingen, Switzerland, at the beginning of 1999, the German building chemicals producer Sto AG is preparing the launch of a subsidiary in the UK and an acquisition in France. The company aims to raise the foreign share of turnover from 31% to 40%. Especially subsidiaries in the US and Switzerland are expected to contribute to the 7% increase in turnover to about EUR 440mn that is budgeted for 1999. In 1998 Sto's turnover declined slightly to EUR 421mn, with domestic sales falling by 5% and foreign sales growing 8%. Profit on ordinary activities declined 4.7% to about EUR 15mn, but a 10% increase is expected in 1999.

United Kingdom, Strategy & planning, France, Chemicals & Allied Products, Chemical Manufacturing, Chemicals, Sto AG

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GERMANY: PAINT IMPORTS, EXPORTS IN 1998

Article Abstract:

In 1998 Germany's exports of paints and varnishes increased 13.2% to 406.2mn tonnes worth DM 2.354bn, up 6.8%. Meanwhile imports grew 6.2% to 96.3mn tonnes worth DM 567mn, up 5.7%. The European Union accounts for just over 50% of Germany's exports and about 80% of imports. Exports to the EU grew 18.6% and imports from the region 5.4% in volume. In trade with Asia, on the other hand, exports declined 10.6% and imports 38.7%.

Imports, Exports

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GERMANY: RINOL TO EXPAND BUSINESS ABROAD

Article Abstract:

The German Renningen-based producer of industrial floors and coatings, Rinol AG is to expand business abroad. Acquisitions are planned in southern and eastern Europe and in the Far East still in 1998. Foreign share of turnover is to grow from 20% to 60% by 2000. In 1998, Rinol is expecting a turnover growth from DM 250mn to DM 550mn due to the takeover of French-Belgian Rocland at the beginning of the year.

Comment:

Rinol AG is to expand business abroad.

Plastic Flooring Products, Unsupported Plastics Profile Shape Manufacturing, Plastic flooring, Rinol AG

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