Sales flat at Clariant

Sales at speciality chemicals group, Clariant, came in unchanged over the first quarter in Swiss franc terms but rose four per cent in local currencies at SFr2.598 billion ($1.49 billion).

This content was published on April 19, 2001 - 09:06

The Basel-based group said it expected business to pick-up from around mid-year.

"On account of negative currency effects, sales in Swiss francs remained on last year's level," it said in a statement.

The company said last month that business had had a sluggish start this year because of the difficult situation in the automotive industry, particularly in the United States.

"Owing to the good performance in Asia and Latin America and the stable situation in Europe, Clariant was able to offset the current lack of growth momentum in North America and Japan," the company added.

Clariant plans to focus on its core speciality chemicals business while also strengthening its financial position following its SFr2.5 billion acquisition last year of British chemicals maker, BTP.

To achieve this the company plans to sell several major businesses over the course of this year.

swissinfo with agencies

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