Solvay Reports Improved Operating Results for Q4 2009
Solvay's operating result in the fourth quarter of €313 million was up from €125 million last year in every sector of activity; for the year overall, the decrease was limited to 6%. The company's 2009 sales we down 11% from the previous year to €8,485 million, and a loss of 3% to € 2,199 million.
was reported for Q4 2009. The development by sector was contrasted:
• Pharmaceuticals: +3%
• Chemicals: -12%
• Plastics: -19%
The company's primary markets of the chemicals and plastics have been hard hit by the economic crisis. Most of the markets have been seeing fragile improvement in demand since mid-2009.
Solvay completed the sale of its pharma business to Abbott for €4.5 billion on. "This includes first cash payment of €4.5 billion and additional cash payment of up to €300 million if the specific milestone are met between 2011 and 2013," the company said in a statement. The company said it will be creating provisions to adapt the organization of the group; however, Solvay did not specify any amount.
