Beiersdorf CEO says Recession won’t affect demand

Beiersdorf’s chief executive officer (CEO) has said the business will not be affected by the current economic climate.

According to Reuters, Thomas Quaas told German newspaper Die Zeit there will still be demand for the company’s products.

The news agency adds the company expects organic growth over 2008.

“We can be 100 per cent sure that people will take care of their personal hygiene on a daily basis even in difficult times,” he was quoted as saying in the newspaper article.

Noting the company aims to have financial means to make transactions, he said it wasn’t “every day” a major acquisition occurs.

Mr Quass continued: “If it does, I want to be able to go for it.”

Earlier this month, it was announced 3M was to acquire Beiersdorf’s Futuro brand of products.

The range includes wraps and bandages, which are used to relieve pain from minor injuries.

Beiersdorf employs 22,000 people and its brands include Nivea, Eucerin and Elastoplast.

Headquartered in Hamburg, Germany, the company has more than 150 affiliates worldwide.

In 2007, it generated sales of 5.5 billion euros (5.28 billion pounds) – a rise on the 5.120 billion euros achieved in the previous year.