Article

Rhodia Expedites Integration Of Albright & Wilson

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Abstract

Aiming to be the world's leading specialty phosphates company, French chemical company Rhodia is moving fast on integrating its operations with those of recently acquired Albright & Wilson. Anti-trust approval of the acquisition, which was announced last year, came this spring. "We have made substantial progress in the last three months in combining the cultures of the two companies, realigning our phosphates manufacturing strategy, and streamlining the business portfolio," said David Eckert, president of Rhodia's consumer specialties division, during a whirlwind series of briefings with the financial communities in Paris, London, and New York City. According to Eckert, the first positive impact of synergies from the acquisition are beginning to be seen and will accelerate rapidly, achieving cost savings of roughly $90 million per year in two years' time, up from the $50 million originally predicted. Among other moves, Rhodia has decided to close, by the end of the year, ...

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