Clariant’s profits climb back into the black
The Swiss specialty chemicals company, Clariant, has posted first quarter 2004 net profits of SFr72 million ($56.4 million), compared with a loss of SFr8 million ($6.3 million) in the same period 2003.
The company which is headquartered in Muttenz near
Looking forward, Clariant said it is placing priority on lowering debt and announced a new target of reducing net debt to below SFr1.5 billion by the end of the year, from the previous target of SFr2.5 billion.
Clariant chief executive, Roland Loesser, said: “We are satisfied by these results because they demonstrate our ability to increase the top line even as we cut costs across the group. While there is still considerably more to be done on our transformation programme, it is clear that the hard work started last year is beginning to pay off.”
The company recently announced plans to close manufacturing plants in
