Elementis acts to reduce costs as currency losses continue to bite
By Myles McCormick
Published: Friday, 30 October 2015
The UK-listed chemicals company said it would take action to reduce its cost base as sales in its speciality products division fell by 20% in Q3 on a reported basis and 7% on a constant currency basis as a number of factors, including currency exchange, China’s slowdown and the weak oilfield sector, adversely affected results.
UK-based speciality chemicals producer
Elementis Plc is still feeling the effects of unfavourable
currency exchange rates, the Chinese slowdown and the malaise
of the oilfield sector.
In an interim management...