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Hoechst loss
increases
Hoechst Chemicals (Aust)
Ltd, in which Australian in
stitutions have a 47 per
cent holding, is taking
longer than expected to be
come profitable.
At the same time, the
company is planning a 50
per cent lift in capacity at
its Altona polyethylene
plant, Melbourne, from the
present 12,000 tons a year.
In 1967, the group's
trading loss increased from
$665,810 to $731,109 and
would have been greater but
for the benefits of $142,886
profit from currency devalu
ations.
The loss lifts accumulated
losses from $732,412 to
$1,463,521.
$