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Arkema Records Loss in First Quarter

1:04 AM MDT | May 13, 2009 | Deepti Ramesh

Arkema reported a net loss of €35 million ($48 million) in the first quarter of 2009, compared with a net profit of €72 million in the first quarter 2008. Sales decreased by 27%, to about €1.1 billion. The sharp downturn in demand in many end market together with de-stocking at customers which began in the fourth quarter of 2008 continued throughout the first quarter of 2009, leading to a sharp reduction in volumes for most activities, Arkema says. The Vinyl Products business segment reported a 34% fall in first-quarter sales, to €257 million...

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