Pharma Industry
Industry: Email Alert RSS FeedRhodia admits need to increase specialties profits.(Rhone-Poulenc subsidiary, specialty chemicals)
Chemical Market Reporter, February, 1998
Rhodia, the newly formed chemicals subsidiary of Rhone-Poulenc which is being floated on the stock market later this year, admits that it must boost poor levels of profitability to become a leading performer in specialty chemicals. The company's pre-tax profit margin of 12 percent last year was the lowest among major international specialty chemical producers, except for Courtaulds, Jean-Pierre Tirouflet, Rhodia's chairman and CEO, told a press conference in Paris last week.
Mr. Tirouflet denied, however, that there was a need to postpone the flotation of a minority of shares because of low profitability. Instead, he believes that the flotation, scheduled to take place either in May or September, will improve the company's financial results. ...
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