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Markets :: Specialty Chemicals :: Paints and Coatings
Kemira Reports a Fourth-Quarter Loss
4:35 AM MST | February 6, 2008 | Kerri Walsh
Kemira reported a fourth-quarter 2007 net loss of â‚¬46 million ($62 million), compared to earnings of â‚¬7.7 million, on sales down 2%, to â‚¬654.4 million. Operating losses were â‚¬43 million, compared to â‚¬21.6 million. Operating income includes a â‚¬47.1-million write down for its Chemidet business, water treatment operations in Denmark, hydrogen peroxide operations in the Netherlands, U.S. operations, and a company-wide enterprise resource planning system. Operating profits fell to â‚¬4.1 million excluding the write down because of high costs, unfavorable...
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