Sales up at Solvay despite weak Rhodia results

ERJ staff report (LMH)

Orléans, France - Solvay, the parent company of rubber chemical business Rhodia, has reported third quarter net sales Euro 3291 million with earnings (REBITDA) of Euro 554 million, a 4 percent increase year-on-year.

Q3 sales at Rhodia decreased 6 percent to Euro 1540 million, while earnings were up 4 percent at Euro 290 million. The advanced materials business within Rhodia, which includes silica, reported a 33 percent decrease in sales at Euro 181 million, while earnings for the quarter were down a huge 53 percent at Euro 41 million.

Solvay did not comment specifically on Rhodia's results but said “Solvay continues executing its strategic journey towards its growth ambition. The integration progresses very well, establishing a solid foundation for the group to move forward.”

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News release from Solvay