02 December 2008 16:39 [Source: ICIS news]
TORONTO (ICIS news)--US specialty chemicals producer and distributor ?xml:namespace>
The measures would come on top of cost savings, synergies and improved asset utilisation in the wake of
“We would expect to use proceeds from any divestitures to enhance liquidity and provide financial flexibility,” he said.
In the current difficult market environment and after the completion of the Hercules deal
Among its business lines, the water chemicals business was likely best positioned to recover quickly, he added.
“I would expect the water business to improve dramatically this year, in spite of the economic environment,” he said.
Last month, the company cut its quarterly dividend to 7.5 cents from 27.5 cents to ensure it has enough cash available amid deteriorating and uncertain markets.
($1 = €0.79)
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