Rhodia – ‘6-K’ for 4/7/03

On:  Monday, 4/7/03, at 1:35pm ET   ·   For:  4/7/03   ·   Accession #:  947871-3-968   ·   File #:  1-14838

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Report of a Foreign Private Issuer   —   Form 6-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 6-K         Report of Foreign Private Issuer                       3     12K 

6-K
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 or 15d-16 OF
 THE SECURITIES EXCHANGE ACT OF 1934

Report on Form 6-K dated April 7, 2003

------------------

Rhodia
(Name of Registrant)

26, quai Alphonse Le Gallo
92512 Boulogne-Billancourt

France
(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports 
under cover of Form 20-F or Form 40-F:                                          

 Form 20-F: |X| Form 40-F: |_|

Indicate by check mark if the registrant is submitting the Form 6-K in paper as 
permitted by Regulation S-T Rule 101(b)(1):                                     

Yes: |_| No: |X|

Indicate by check mark if the registrant is submitting the Form 6-K in paper as 
permitted by Regulation S-T Rule 101(b)(7):                                     

Yes: |_| No: |X|

Indicate by check mark whether the registrant by furnishing the information     
contained in this form is also thereby furnishing the information to the        
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes: |_| No: |X|

Enclosure:  A press release dated April 7, 2003 containing a statement by Rhodia
following the Board meeting convened on Friday, April 4, 2003.                  

6-K
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     [RHODIA LOGO OMITTED]

EMBARGO Monday April 7, 2003 - 7:00 am

                                                                   PRESS RELEASE

 STATEMENT BY RHODIA FOLLOWING THE BOARD
MEETING CONVENED ON FRIDAY APRIL 4, 2003

Paris, April 7, 2003 - The Board of Directors of Rhodia met on Friday April 4,  
2003, at 3:00 p.m.                                                              

1.  The Board of Directors reviewed the drafts resolution to be presented to the
Annual Shareholders' Meeting of Rhodia to be convened on April 29, 2003.

o   The Board of Directors decided not to accept the draft resolution submitted 
for consideration at the Annual Shareholders' Meeting by Mr. Hughes de  
 Lasteyrie du Saillant in his capacity as legal representative of Valauret
   SA, calling for the early termination of Jean-Pierre Tirouflet's membership
of the Board of Directors of Rhodia. The Board advises Rhodia's         
 shareholders' to reject this draft resolution by voting against it at the
   Annual Shareholders' Meeting. The Board also sought to assure the stability
 of Rhodia, particularly during the current difficult economic conditions,
 confirming its confidence in the management team and its CEO, Jean-Pierre
   Tirouflet, for implementing the current strategy supported by the Board and
in avoiding the break up of the Group.                                  

o   The Board of Directors decided not to approve the draft resolution ratifying
the appointment of Mr. Edouard Stern as a director.                     

o   The Board of Directors decided to submit to the Annual Shareholders' Meeting
    the appointment of PricewaterhouseCoopers as Statutory Auditor of Rhodia for
the next six years.                                                     

2.  The Board of Directors received an updated report on the Group's activities.
    As anticipated by Rhodia when it published its annual results on February 5,
   2003, this report highlighted the difficulties encountered during the first
    quarter of this year as a result of the combined impact of the high price of
petrochemical raw materials, a weakening in demand, and a decline in the
value of the US dollar.                                                 

  Compared with the results for the first quarter of 2002, restated to allow
   for changes in the reporting entity and to reflect current foreign currency
 exchange rates, Rhodia now anticipates 4.3% growth in sales for the first
  quarter of 2003 (restated Q1 2002 sales figure: (euro)1,368 million) and a
  decline in EBITDA of approximately 20% (restated Q1 2002 EBITDA: (euro)139
  million). Current forecasts for the second quarter of this year anticipate
   an improvement in the business environment, compared with the first quarter
of 2003, despite persistently high raw material prices.                 

   For the year as a whole, the Group maintains its target of reducing the Net
Debt/EBITDA ratio to less than 2.5.                                     

Rhodia will publish its results for the first quarter of 2003 on Tuesday
April 29, 2003 before trading starts on the Paris Stock Market.         

This press release contains elements that are not historical facts, including,  
without limitation, certain statements on future expectations and other         
forward-looking statements. Such statements are based on management's current   
views and assumptions and involve known and unknown risks and uncertainties that
could cause actual results, performance or events to differ materially from     
those anticipated.                                                              

Rhodia is one of the world's leading manufacturers of specialty chemicals.      
Providing a wide range of innovative products and services to the consumer care,
food, industrial care, pharmaceuticals, agrochemicals, automotive, electronics  
and fibers markets, Rhodia offers its customers tailor-made solutions based on  
the cross-fertilization of technologies, people and expertise. Rhodia subscribes
to the principles of Sustainable Development communicating its commitments and  
performance openly with stakeholders. Rhodia generated net sales of (euro)6.6   
billion in 2002 and employs 24,500 people worldwide. Rhodia is listed on the    
Paris and New York stock exchanges.                                             

Contacts                                                                        

Press Relations                                                                 
Jean-Christophe Huertas             33-1 55 38 42 51                            
Lucia Dumas                         33-1 55 38 45 48                            

Investor Relations                                                              
Marie-Christine Aulagnon            33-1 55 38 43 01                            
Fabrizio Olivares                   33-1 55 38 41 26                            

6-K
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SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934,
Rhodia has duly caused this report to be signed on its behalf by the            
undersigned, thereunto duly authorized.                                         

              Rhodia

Date:  April 7, 2003                        By:  /s/ Pierre Prot                
                                       -----------------------
                                  Name:  Pierre Prot
                                              Title: Chief Financial Officer

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘6-K’ Filing		Date		First		Last			Other Filings
		4/29/03		2					6-K
Filed on / For Period End:		4/7/03		1		3
		4/4/03		1		2
		2/5/03		2					6-K
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