Bekaert NV , the largest maker of steel cord used in tires, declined the most in five months in Brussels trading after saying Chinese demand began to slow and it will cut prices to defend against rising local competition.
Solvay SA, the chemicals maker that bought Rhodia SA last year, forecast 2012 profit that surpassed most analysts’ estimates after reporting a smaller-than- estimated drop in first-quarter earnings as prices rose.
Solvay SA , the world’s largest soda- ash maker, reported operating profit that beat analyst estimates and said reinvesting the $6.1 billion in proceeds from the sale of its drug unit remains a priority.
Bekaert NV, the world’s largest maker of steel cord for tires, fell the most in nine months in Brussels after saying the collapse of its sawing-wire business will prompt an additional writedown of the equipment.
Solvay SA , the chemicals maker that got $6.1 billion for its drug unit a year ago, said acquisitions remain a priority and Chief Executive Officer Christian Jourquin has no concerns about his search failing because of financial discipline.
Umicore SA, the Belgian maker of a third of all auto-catalysts, said first-half profit climbed 38 percent and record earnings from precious-metals recycling will persist in the second half because of improved supply contracts and rising investor demand for gold.
Solvay SA, the chemicals and plastics maker buying Rhodia SA, said second-quarter profit more than doubled, led by price increases for PVC and soda ash as growth in demand for specialty polymers slowed.