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Change in consolidated net financial debt
Major changes in the 2016 consolidated financial statements, particularly the various sections of the
balance sheet and income statement, are commented on in the annexes to the annual report.
Prayon Inc.'s activities were adversely affected by the recall of purified acid, resulting in a significant
loss of revenue.
The PRT and Profile technological divisions performed well once again, with results better than forecast.
The results recorded by Silox in 2016 remained very positive, buoyed by the excellent performance of
its subsidiaries Transpek-Silox, JGI and SNCZ. 10% of the shareholding was divested at the end of the
Seco had a very difficult year in 2016, reflecting the state of the agricultural and fertiliser markets.
However, the outlook for 2017 is better. Seco's management and shareholders (Prayon and Yara) are
exploring various avenues to ensure the sustainability of the company.
The partnership agreement with producer Pulead was approved by the Chinese authorities. The
agreement covers lithium iron phosphate (LFP - LiFePO
), for which Prayon has obtained operating
licences from the LiFePO
+ C alliance and developed technologies that the new joint venture will be
able to exploit. Construction of the Xining plant was completed in November and the transfer of assets
to the JV is planned for 2017, alongside negotiation of the first sales contracts.