Lonza registers major rise in profits
The Lonza specialty chemicals group recorded a strong performance in 1999, with profit rising 16.3 per cent over the previous year to SFr273 million.
The Lonza specialty chemicals group recorded a strong performance in 1999, with profit rising 16.3 per cent over the previous year to SFr273 million.
A statement from company headquarters in Zurich said that following its public flotation last November, the Lonza Group had achieved an "outstanding result" thanks to the contribution of its fine chemicals businesses.
The chemicals and energy activities of the Alusuisse Lonza Group were demerged into the Lonza Group as a prerequisite for the implementation of the planned three-way merger of the Algroup with Alcan and Pechiney.
Lonza said that focus on efficiency in the fine chemicals businesses over the last two years and strong earnings from the group's energy sectors had been more than enough to offset the poor showing of its Intermediates and Additives division.
The statement added that the year 2000 was expected to show uneven performance. "Depending on the performance of our Intermediates and Additives business, whose competitive positioning and current performance remains unsatisfactory for our Group, we expect the 2000 results to exceed those of 1999," it added.
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