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German specialty chemicals maker Cognis GmbH & Co. KG hopes to add a major acquisition to its wellness or renewable resources division to double the company's annual sales of euro 3.1 billion ($3.3 billion) before a planned initial public offering.
Though the private equity-backed company has recently made several buys "in the euro 100 million to euro 200 million range," they aren't enough to get the company to its sales goal, said chief executive Antonio Trius on Tuesday, Feb. 11, when it released its 2002 earnings.
Earlier this month, Cognis bought Southampton, England-based Laporte Performance Chemicals from German rival...