Solvay sees first signs of recovery for certain plastics

22 March 2002 11:56  [Source: ICIS news]

LONDON (CNI)--Belgian chemicals company Solvay said Friday the first signs of recovery are beginning to be noticeable for several plastics products.

A spokesman told CNI that products which have specifically demonstrated a recovery include polyvinyl chloride (PVC) as well as polypropylene (PP) and polyethylene (PE) compounds.

He added that the pharmaceuticals and soda ash businesses are "going strong".

In confirming its 2001 results today, Solvay warned that the beginning of this year is still marked by uncertainty concerning the short-term future of the world economy. It also reiterated that it will benefit this year from the "fruits of the strategy" it has followed for several years, namely the rapid development of pharmaceuticals and higher value-added specialties.

Solvay recorded a 6% drop in 2001 earnings before interest and tax (EBIT) to Euro628m ($555m). Sales fell 2% to Euro8.72bn.

By: Russell Ong
+44 208 652 3214

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