Capital expenditures (excluding acquisitions) in the year under review amounted to 436 million euros. Capital expenditures on property, plant and equipment for continuing operations totaled 404 million euros, following 393 million euros in 2012. We invested 32 million euros in intangible assets (previous year: 29 million euros). The majority of these capital expenditures was attributable to the Adhesive Technologies and Laundry & Home Care business units. More than two-thirds of our total capital expenditures went into expansion projects and rationalization measures. The main focus was on structural optimizations in production and capital expenditures on production plants for the manufacture of innovative product lines (Laundry & Home Care and Beauty Care). The focus in the Adhesive Technologies business unit was on consolidating production sites and expanding production capacities in emerging markets.
The major projects of 2013 were as follows:
- Construction of an automatic high-bay warehouse as central storage facility for Germany in Düsseldorf, Germany (Laundry & Home Care)
- Erection of a filling line for innovative packaging for hair colorants in Viersen, Germany (Beauty Care)
- Expansion of our new production site near Moscow, Russia (Beauty Care)
- Building of a factory for the manufacture of construction products in Stavropol, Russia (Adhesive Technologies)
- Building of injection molding systems for the production of functional components for the automotive industry in Richmond, Missouri, USA (Adhesive Technologies)
- Consolidation of production sites and expansion of production capacities in Shanghai, China (Adhesive Technologies)
- Consolidation and optimization of our IT system architecture for managing business processes in the Asia-Pacific region
In regional terms, capital expenditures focused primarily on Europe, North America and Asia.
The first-time consolidation of subsidiaries resulted in additions to intangible assets and property, plant and equipment in the amount of 29 million euros. Details of these additions can be found here.