ESSEN (dpa-AFX) - The chemicals trader Brenntag intends to press ahead with the separation of its two divisions. The Essentials and Specialties divisions are to be established as two independent divisions with full business autonomy, supported by a lean Group headquarters, the company announced in Essen on Tuesday. This will also involve a reorganization of the portfolio. The pharmaceutical activities are to be transferred from Essentials to Specialties. In return, some businesses will move from the Specialties division to the Process Chemicals division, which will then account for 70 percent of the current gross profit. The company has set itself new financial targets up to 2027.

Earnings before interest, taxes, depreciation and amortization (EBITA) are to increase by seven to nine percent per year under its own steam. The previous medium-term forecast up to 2026 envisaged corresponding annual growth of six to eight percent. The Essentials division is expected to increase its organic operating Ebita by five to seven percent, while Specialties is expected to achieve a profit increase of seven to nine percent. Brenntag expects the costs for the ongoing savings program and the further unbundling to be between 450 million and 650 million by 2027./nas/mis