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Clariant Reports Loss in First Quarter
3:29 AM MDT | May 6, 2009 | Deepti Ramesh
Clariant has recorded a first-quarter net loss of SF91 million ($80 million), compared with a net profit of SF41 million in the first quarter of 2008. Sales for the first quarter decreased by 24%, to SF1.6 billion. The quarter was characterized by a steep decline in demand, Clariant says. Sales volumes fell 25%, resulting in extremely low capacity utilizations which were accentuated by the company’s strong focus on cash flow generation by reducing inventories. Inventories were reduced by lowering production volumes below sales volumes. The resulting strong...
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