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DSM expects 3Q loss from restructuring.(News: Europe)
- Article from:
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Chemical Market Reporter
- Article date:
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October 6, 2003
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Copyright informationCOPYRIGHT 2003 Schnell Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DSM IS expecting to report a loss of 70 million [euro] to 90 million [euro] ($80 million to $100 million) in the third quarter mainly over the cost of restructuring its pharmaceutical intermediates and elastomers businesses.
A total of 102 million [euro], consisting of 59 million [euro] in writedowns and 43 million [euro] in other provisions, is being charged to the quarterly accounts. There will also be a 15 million [euro] nonrecurring charge resulting from an explosion at a glyoxylic acid plant at Linz, Austria, which remains closed.
Around 600 jobs will be lost following the closure and mothballing of intermediates and elastomers plants in the US and in the ...
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