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Chemical Week Magazine :: Business & Finance :: United States/Americas

Georgia Gulf’s Loss Widens; Plans Sale of More Noncore Assets

1:39 PM MDT | May 20, 2008 | Rebecca Coons and Nancy Seewald

Georgia Gulf reported a net loss of $69.5 million in the first-quarter, compared to a net loss of $34.6 million in the year-ago quarter. The company says it will target further cost-reduction initiatives and more aggressive sales of noncore assets this year. Georgia Gulf has been struggling to remain profitable in the wake of its 2006 acquisition of Royal Group Technologies and the U.S. housing market downturn (CW, April 11/18, 2007, p. 9). “While we made progress on many of our goals, we are disappointed by our financial results for the...

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