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Solvay plastics profits down 96% in H1 2009

August 26/2009
BRUSSELS, BELGIUM (plasteurope.com) -- Solvay said profits from its plastics segment fell sharply in the first half of 2009. The segment reported a 96% drop in recurring earnings before interest and tax to EUR 8m, compared with EUR 187m a year earlier. Plastics sales plunged 31% to EUR 1.35 bn.

In the specialty polymers business, the demand slowdown which began in the fourth quarter of 2008 continued in the first half of 2009. The vinyls business suffered a sharp reduction in demand, especially in Europe.

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