Belgian chemicals and pharmaceuticals giant Solvay SA posted a 6.1% rise in 3Q 2005 net profit, although margins at its core chemicals and plastics divisions were hurt by high energy prices. Net profi…
Belgian chemicals and pharmaceuticals giant Solvay SA posted a 6.1% rise in 3Q 2005 net profit, although margins at its core chemicals and plastics divisions were hurt by high energy prices. Net profit was EUR 173 million (USD 209 million), up from EUR 163 million in 2004. Solvay“s chemicals business has been booming over the past year as prices have risen for its main products: soda ash and caustic soda. However, while the company says markets remain firm and prices are rising, the unit has suffered recently, particularly in the US, as gas prices increase mainly due to the recent hurricanes. Sales were EUR 2.2 billion, up 14%.