Net debt expense amounted to BEF 1.2 billion in the first half of 1998, which is the same amount as in the first half of 1997. The minority interests in these results amounted to BEF 0.2 billion. This price increase was bolstered by an increase in demand in Europe during the first half of 1998. Soda ash performed better than in the first half of 1997 due to steady European demand as well as the modest, but positive contribution of Solvay SODI in Bulgaria, which compensated for negative pressure on American exports to Asia. Prices for hydrogen peroxide remain low but are recovering in Europe.
Fluorinated activities continue to evolve favorably.
Barium and strontium carbonates remain at a satisfactory level from the first half of 1997 despite the Asian crisis. Nonetheless, for the past few months, the sales prices of PVC and HDPE in Europe have dropped more markedly than the price of their main raw material, ethylene. Polypropylene continues to experience pressure on prices and margins. The Automotive Division saw the strongest improvement compared to the first half of 1997, attributable to an increase in sales of fuel tanks in the American and European markets. The Pipes and Fittings division experienced limited growth in its results even though the European market remains very competitive.