Pharma Industry
Industry: Email Alert RSS FeedRhodia Positive Despite Slowing US Economy.(Brief Article)
Chemical Market Reporter, February, 2001 by MILMO, SEAN
Company says it is well placed to exploit openings for potential acquisitions. AFTER BEING HIT by the rise in oil prices and the cost of delays in the completion of its acquisition of Albright & Wilson (A&W), Rhodia reported a 5-percent drop in net income to [epsilon]216 million ($205 million) in 2000.
Despite the decline, the company is nonetheless optimistic about improving performance this year despite the possibility of a US recession and a slowdown in the global economy. This would be achieved to a large extent by cost cutting but also through higher selling prices in some sectors. The company, which is the first of Europe's leading specialty chemicals producers to announce full results for last year, claimed that it is better placed than many...
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