News from Notch Consulting, Inc.

December 11, 2008

Rhodia Revises 2008 Outlook

Filed under: General, Silica — Notch @ 12:43 pm

On December 8, 2008, Rhodia issued a press release revising its guidance for 2008 in the context of the worsening economic environment. The company is feeling the effects of declining end-market demand and customer de-stocking, with the worst effects being felt by the Polyamide, Silcea, and Novecare enterprises. The lower demand is preventing the Group from capturing some of the positive impact of lower raw material and energy costs.

According to Rhodia Chairman and CEO Jean-Pierre Clamadieu, “Addressing this very challenging macroeconomic environment, the Group has reinforced the implementation of the action plans announced early November. These measures include the temporary closure or slowdown of some of our production facilities, primarily operating in the Polyamide, Silcea and Novecare enterprises. Furthermore, we remain focused on stringent cash management in order to secure a positive Free Cash Flow generation for the year. ” (My emphasis) The release did not specify which facilities would be affected.

Here is the release.

Advertisements

1 Comment »

  1. […] to Idle Silica Capacity By Notch Earlier today, this blog reported on Rhodia’s announcement regarding current market conditions and their effect on the […]

    Pingback by Rhodia to Idle Silica Capacity « News from Notch Consulting Group — December 11, 2008 @ 5:32 pm


RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: