DGF Stoess completes name change
Leading German gelatine producer DGF Stoess has completed its change of name to Gelita.
Leading German gelatine producer DGF Stoess has completed its change of name to Gelita.
The name change was initiated back in 2002 to develop a global identity and its subsidiaries throughout the world have been operating under the name Gelita since then. But the DGF Stoess name will now also disappear after some 130 years of trading.
Holding nearly 28% of the gelatine market, the group achieved an increase in sales of 3.2% over the previous year. Turnover, however, decreased by €18m to €454m and annual profit dropped €8m to €35m.
The company expects to increase turnover and maintain profits in 2005. However, it says competition has increased considerably over the past year. In particular, the expansion of the EU to include a number of East European countries has affected the raw materials supply situation, resulting in increased costs and making trading more difficult, the company said.