Clariant looks to improve profitability - leatherbiz: Leading news sit Leatherbiz

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Clariant looks to improve profitability

16/02/2010
Clariant has posted sales of CHF6.6 billion ($15.4 billion) for 2009 compared with CHF8 billion in 2008. This represents a decline of 18% in Swiss francs and 14% in local currency. Demand was particularly low in the first quarter but picked up during the second half of the year.

Fourth-quarter sales were CHF1.71 billion compared with CHF1.74 billion during the prior-year period. Asia recorded double-digit growth while all other regions remained at the depressed levels of fourth-quarter 2008. While volumes increased 8%, sales prices fell 6% and raw material costs were 14% lower.

CEO, Hariolf Kottmann, commented: “During the year we have successfully focused on generating cash, decreasing costs and reducing complexity. In an economic environment that is still challenging, we will continue to focus on our restructuring efforts. The aim remains to achieve sustainable above industry-average profitability by the end of 2010 and to create a solid platform for profitable growth in the years thereafter.”


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