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Solvay Reports Third-Quarter Profits Down; Evaluates Options for Reinvestment of Pharma Proceeds

4:01 AM MDT | October 29, 2009 | Natasha Alperowicz

Solvay reported a 2% decrease in third quarter recurring earnings before interest and taxes (Rebit) at €285 million ($424 million) on 10% lower sales of €2.24 billion, citing difficult market conditions. Earnings before interest and tax (Ebit) fell 32% to €255 million. Of Solvay's three business segments, chemicals, plastics and pharmaceuticals, only the pharma unit showed an increase in sales and Rebit. Solvay is selling the pharma business. Chemicals' Rebit was down 21% at €56 million on 18% lower sales of €658...

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