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Rhodia Posts First-Quarter Loss; to Close Nylon Plant in Canada

5:49 AM MDT | May 6, 2009 | Natasha Alperowicz

Rhodia has reported first quarter operating loss of €91 million ($123 million) compared with an operating profit of €92 million in the corresponding period of 2008. Sales were down 24% at €920 million as a result of a 27% contraction in volumes, primarily linked to the demand crisis in the automotive, construction and other industrial end-markets, the company says. Recurring Ebitda was down to € 2 million in the first quarter compared to €168 million in the same period of last year. "This reflects the unprecedented drop in volumes...

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