Altana Says Full-year Sales Rose 18% on Foreign Demand
German chemicals maker Altana said Friday that full-year sales rose 18% as the company benefited from rising foreign demand.
Revenue for the year through Dec. 31 rose to 3.9 billion euros ($5.06 billion) from 3.3 billion euros in the same period a year earlier, the company said in a statement.
"This growth was mainly driven by foreign business," the company said in a statement.
Altana expects its chemicals business to post an operating sales growth of less that 10% in fiscal 2007. The medium-range growth target is set at average sales growth of 10%
Regulators last month cleared Altana to sell its drugs unit to Denmark's Nycomed Holding for 4.5 billion euros ($5.71 billion). The European Commission said the deal would not cause any antitrust problems in Europe as there was only a limited overlap between the two companies.
Altana's shares fell 0.4% to 47.09 euros ($61.11) on the Deutsche Boerse.