Markets :: Specialty Chemicals :: Paints and Coatings
AkzoNobel's Fourth-Quarter Losses Narrow
4:25 AM MST | February 18, 2010 | Kerri Walsh
AkzoNobel's fourth-quarter losses narrowed helped by improved volumes and cost cutting programs. The company reported a €56-million ($81.4 million) loss from continuing operations, compared to a €1.5-billion loss in the year-ago period. Sales fell 7%, to €3.3 billion. Ebitda rose 4%, to €396 million. "Our volume development per quarter confirms that the stabilization we reported at the end of the third quarter has continued," says CEO Hans Wijers. "However, we believe the recovery is fragile and will be slow," Wijers...
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