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Profits soar at EMS Chemie

EMS Chemie benefits from new products

(Keystone)

Swiss speciality chemicals group, EMS Chemie, beat analysts' expectations, boosting net profits by 20.6 per cent to SFr253 million ($147.5) last year. Sales rose 6.8 per cent to SFr1.16 billion.

The canton Zurich-based company had been expecting weaker growth over 2000, but attributes the better than expected performance to the successful launch of new products.

The company also saw a significant improvement in its engineering business in Asia, which boosted sales.

EMS Chemie, which is run by the right-wing Swiss politician Christoph Blocher, said it expected to maintain its high operating profit and increase sales in 2001, despite worsening economic conditions in the United States and Asia.

swissinfo with agencies


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