29 October 1999
Zeneca agrochem’s future uncertain
ASTRAZENECA has said it will not clarify its plans for its agrochemicals arm until the full-year results in February.
Zeneca Agrochemicals has announced it is cutting 450 of the 8500 jobs across its operations as a probable prelude to sale or flotation of the unit.
The agrochemicals business suffered a £3 million loss in the third quarter and the nine-month profits total was 24% lower at £169m.
AstraZenecas third-quarter results were substantially better than expected. Third-quarter pre-tax profits rose by 54% to £573m, with the nine-month total rising 18% to £1.8bn.
- AstraZeneca agrochem on offer, FWi, 25 October 1999
- AstraZeneca to drop agrochemicals, FWi, 27 May 1999
- Zeneca denies plans to sell off agrochem, FWi, 03 March 1999
- The Times 29/10/99 page 30
- The Independent 29/10/99 page 25 (Investment Column)
- Financial Times 29/10/99 page 21
- The Herald 29/10/99 page 23, page 23 (Business Comment)