Benecol maker to focus on life science chemicals

- Last updated on GMT

Finnish company Raisio on Tuesday unveiled its long-expected
strategic focus change, saying it aimed to be a life-science
oriented chemicals group and forecasted its turnover to double to
1.6 billion euros ($1.46 billion) by 2005

Finnish company Raisio on Tuesday unveiled its long-expected strategic focus change, saying it aimed to be a life-science oriented chemicals group and forecasted its turnover to double to 1.6 billion euros ($1.46 billion) by 2005. The food and chemicals group said it would try to be one of the three leading companies in its three major business areas: chemicals, food and feed, and life science. Raisio said it would set aside 300 million euros for acquisitions for its key chemicals unit in the next few years, with the aim to boost the division's turnover to one billion euros. It said its Benecol unit, the functional food margarine, which has consistently underperformed company and investor hopes, would be part of the new Raisio Life Sciences division, which has a target turnover of 200 million euros.

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