Dial/Henkel Modify Joint Venture Agreement
Henkel and Dial will continue to own a limited U.S. joint venture equally; however, the only business to be conducted by the joint venture going forward will be the Custom Cleaner home dry cleaning business. Dial will continue to market, sell and distribute the Custom Cleaner products on behalf of the U.S. joint venture. Dial and Henkel have also agreed to terminate the license of the Purex trademark to both the U.S. and Mexico joint ventures.
In addition, Henkel has purchased Dial's interest in the Mexico joint venture for $18.9 million.
Henkel is a worldwide operating specialist in adhesives, brand-name products and in industrial specialties with affiliates in over 70 countries. The Company is the market leader in adhesives, surface technologies and industrial and institutional hygiene (jointly with Ecolab Inc.) on a worldwide scale. In detergents it ranks second in Continental Europe and in cosmetics Henkel holds the number three position in Europe. Cognis, the recently carved-out chemicals business, is a producer of oleochemicals.