Despite reporting a decline in revenues, Germany's third-largest
chemicals company Degussa said that it had 'got off to a solid
start' in the first quarter of the year, ahead of presenting its
full results tomorrow.
German chemicals company Degussa last week launched a benchmark
bond to replace maturing debt and extend its financial liabilities.
It was three times oversubscribed, according to the company,
increasing the transaction size.
Germany's third-largest chemicals company Degussa has taken a €500
million charge in its fine chemicals business unit as it continues
to feel the impact of adverse changes in market conditions.
Despite a testing global economic climate, sales remained steady
and earnings before interest and taxes rose for German speciality
chemicals company Degussa in the first quarter of 2003. But guarded
optimism remains for 2003.
German chemicals company Degussa AG has completed most of an
ambitious disposal program after agreeing to a €265 million sale of
its gelatin business, SKW Gelatin & Specialties, to Sobel NV of
the Netherlands.
