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...

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