Solvay predicts “high single digit” earnings growth in 2016 following Cytec buy
Published: Thursday, 25 February 2016
The Belgian chemicals producer saw its pre-tax income grow 10% y-o-y in 2015, a pattern it expects to continue as Cytec, a US-based manufacturer of chemicals, polymers and additives, is brought onto its books.
Belgian chemicals manufacturer Solvay SA
said expects its purchase of US counterpart Cytec Industries Inc. to
pay off in 2016, bringing "high single digit" growth.
The company reported REBITDA* (not including Cytec, which it
acquired on 9 December) of €1.955m ($2.152m**) for 2015, a
10% increase on 2014 figures....