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Clariant Posts a First-Quarter Net Loss

9:03 AM MDT | May 8, 2009

Clariant recorded a first-quarter 2009 net loss of SF91 million ($80 million), compared with a net profit of SF41 million in first-quarter 2008. Sales decreased 24%, to SF1.6 billion. The quarter was characterized by a steep decline in demand, Clariant says. Sales volumes fell 25%, resulting in extremely low capacity utilization that was diminished further by the company’s strategy to reduce inventories as a means of improving cash flow generation. The resulting strong operating cash flow came at the expense of a lower gross margin and a negative operating...

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