DSM Elastomers reports loss in Q1

ERJ staff report (DS)

Heerlen, Netherlands -- DSM NV has reported its first quarter results. The company said its subsidiary DSM Elastomers made a loss in the period, but did not give a detailed breakdown.

DSM Elastomers is part of DSM's Base Chemicals cluster. DSM said of this cluster, "Sales volumes were lower at all units. The main contributors to the lower volumes were DSM Elastomers, which is DSM's business most exposed to the automotive industry." The company added, "The cluster showed a negative operating profit. This was mainly caused by DSM Elastomers and DSM Melamine, which both experienced a further weakening of business compared to Q4."

The company said the sale of its elastomers unit, "is underway in the form of a controlled auction process."

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Press release from DSM