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Lonza Reports Fall in First-Half Profits
8:19 AM MDT | July 25, 2012 | Deepti Ramesh
Lonza recorded a 3.1% fall in first-half profits compared with the year-ago period, to SF94 million ($94.5 million). First-half sales increased, however, by 64.6%, to SF1.96 billion, mainly due to the acquisition of biocides maker Arch Chemicals (Norwalk, CT), which was completed last October, for $1.4 billion, Lonza says. EBIT for the first half increased by 23.5%, to SF168 million Earlier this year, Lonza fired CEO Stefan Borgas following a series of weak financial results. Richard Ridinger was appointed as the new CEO, starting May 1. The new CEO says he has...
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