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Solvay Reports Higher Sales and Profit; Focuses on 'Optimal Reinvestment' Following Disposal of Pharma Unit

1:18 AM MDT | July 29, 2010 | Natasha Alperowicz

Solvay's recurring group operating result (Rebit) from continuing operations, following the sale of its pharmaceuticals business, rose to €183 million ($237.8 million) in the second quarter of this year, compared to €63 million in the same period of 2009. Sales were down 11% to €1.85 billion, following the divestment of the pharma business but up 32% compared with chemicals and plastics in the first quarter of 2009. Chemicals sales were 12% higher at €762 million while plastics revenues rose 50% to €1.1 billion. Second quarter chemicals...

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