Akoma lost 35million euros in the first quarter

2022-08-16
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Arkema lost 35million euros in the first quarter.

Arkema announced on May 13 that its sales in the first quarter of 2009 were 1.092 billion euros, a decrease of 400 million euros from 1.492 billion euros in the first quarter of 2008, when it plans to increase the tax on Chinese printed products by 25%. Due to the decline in product sales and prices, the company's first quarter EBITDA was only 57 million euros, A year-on-year decrease of 64% increased investment attraction, while the net profit was a loss of 35million euros (48million dollars), and the net profit of the company in the same period of 2008 was 72million euros. According to the company, at present, except for the signs of increasing demand in the Chinese market, the overall demand in the global market is still very low, and the company does not see any major improvement in the economic environment. Despite the net loss, Arkema's working capital in the first quarter was still as high as 96 million euros, which was better than the negative 101 million euros in the same period of 2008. The company plans to reduce the fixed cost by 550 million euros compared with the non experimental machine in 2005 by 2010. Therefore, the North American Business Department of the company announced on May 12 that it will reduce the employees of its headquarters in Philadelphia, Pennsylvania and its Canadian subsidiary in Oakville, The goal is to save $40million by 2010. The company will also reduce the number of installation personnel in Louisville and carollton, Kentucky, mobile, Alabama, Memphis, Tennessee, birdsboro and Bristol, Pennsylvania

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