ERJ staff report (LMH)
OrlÃ©ans, 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 â€œSolvay continues executing its strategic journey towards its growth ambition. The integration progresses very well, establishing a solid foundation for the group to move forward.â€
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News release from Solvay