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March 9, 2010

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Home » Business » Manufacturing

Henkel's sales rise despite downturn

HENKEL, the German cosmetics-to-glue maker, reported a 7.3 percent growth in Asia-Pacific sales last year despite the effects of the global economic crisis.

Sales in the region climbed to 1.66 billion euros (US$2.26 billion), Henkel China President Faruk Arig said at a media briefing yesterday in Shanghai. The company, which makes Loctite adhesives, Schwarzkopf shampoo and Persil detergent, last month said global sales fell 3.9 percent last year.

Sales on the Chinese mainland and Hong Kong totaled 572 million euros last year, according to Jason Wang, chief financial officer of Henkel China. He didn't give a comparative figure.

Arig said that "2009 saw the slump in industries such as transportation, machinery, electronics and retail where Henkel operates globally."

He said that compared with the consumer goods sector, the industrial sector was hit harder by the recession last year, for example major customers in the adhesives division reduced their orders.

But Asia still expanded, which he called a "strong performance," because stimulus measures were rolled out early by governments.


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