Solvay reports record operating results of €1.2 bln for 2007

Solvay has reported record operating results of €1.2 bln for 2007 across all its sectors - chemicals, plastics and pharmaceuticals. This marks an improvement of 9% over results of 2006. The plastics sector showed improvement due to robust performance of specialty polymers and vinyls division. Sales in the plastics sector increased by 4% in 2007 to €3950 mln and REBIT increased by 8% to €441 mln despite the unfavourable effects of the dollar and yen exchange rates. Unfavourable dollar and yen rates affected specialty polymers. Volume growth of 8% was recorded in 2007 for specialty plastics, and over 10% for high-performance polymers. Solvay's Vinyls division improved as compared to the excellent levels achieved over these past three years, mainly due to overall better spreads, almost 5% growth in worldwide demand and a reinforced competitive position. Demand in Europe remained good despite seasonal slowdown at the end of 2007.
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