Solvay’s €1.5bn impairment of the back of the current challenging business situation is the price the current management has to pay for the predecessor’s expensive decisions. The perspectives in the aerospace and the shale oil & gas industries are not the best and are expected to remain subdued for quite a while. The CEO decided to write off ~90% of Composite Materials’ former goodwill. This action looks rather hasty, but the current pandemic will be the perfect exc
24 Jun 2020
Caught on the wrong foot
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Caught on the wrong foot
Solvay SA (SOLB:WBO) | 0 0 0.5% | Mkt Cap: 11,953m
- Published:
24 Jun 2020 -
Author:
Martin Schnee -
Pages:
2
Solvay’s €1.5bn impairment of the back of the current challenging business situation is the price the current management has to pay for the predecessor’s expensive decisions. The perspectives in the aerospace and the shale oil & gas industries are not the best and are expected to remain subdued for quite a while. The CEO decided to write off ~90% of Composite Materials’ former goodwill. This action looks rather hasty, but the current pandemic will be the perfect exc