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Article: Celanese to Post Loss in 2001 and Cut 850 Jobs as Markets Rapidly Decline.(Celanese AG)(Brief Article)
- Article from:
- Chemical Market Reporter
- Article date:
- September 10, 2001
CopyrightCOPYRIGHT 2001 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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Claudio Sonder
CELANESE AG expects to post a net loss this year because of the rapid deterioration of the European technical polymers market and a sudden decline in the Asian acetyls sector.
In its second profit warning within a month, the company predicted that EBITDA (cash flow) would be 20 percent lower this year at [euro]400 million ($365 million) before special charges. "At this EBITDA level, our net earnings from continuing operations, excluding special charges, will be negative," Perry Premdas, Celanese's chief financial officer, said last week during a conference call.
He also says there is a risk the company will not pay a dividend ...
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Article: TORTORICI NAMED TO HEAD ATOFINA'S TECHNICAL ...
Advanced Materials & Composites News;
March 4, 2002 ;
700+ words
... ... position of regional group president, North America, Technical Polymers, replacing Rich Rowe who has also been promoted. In ... but will now assume responsibility for all Atofina's technical polymers in North America, including Rilsan(R) polyamide resin ...
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