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Markets :: Basic Chemicals :: Inorganic Chemicals :: Chlor-alkali
Georgia Gulf Swings to Loss
8:23 AM MST | February 16, 2012 | Lindsey Bewley
Georgia Gulf reported a fourth-quarter loss of $3.3 million, compared to net income of $15.1 million in the year-ago quarter, on sales down about 3%, to $673.8 million. The net loss in the fourth quarter of 2011 includes an $8.3 million asset impairment charge, a $2.2 million restructuring expense, a $3.8 million loss on the early redemption of debt and a benefit to income tax expense from the reversal of $11.7 million of tax reserves. The company’s chlorovinyls segment posted operating income of $21.5 million, down 48% from the year-ago period...
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