This paper is intended to examine the pre and post privatization performance of privatizedrnSOEs in the Chemical Industry of Ethiopia. The main concern is to see the financial andrnoperational performances of the case enterprises. The study is based on literature review andrnused secondary data predominantly. Moreover, some primary data sources were used. Four casernfirms namely: Alkyd Resin S.C, Addis Ababa Foam and Plastic, Nefas Silk Paint and AddisrnAbaba Bottle and Glass Factories were taken as point of the study. Primary data were gatheredrnfrom the respective firms through interview and Annual Audited Financial Reports werernreviewed as secondary data source. The study summarizes the privatization performance of therncase enterprises in terms of profitability and efficiency measures. The empirical evidence on thernfinancial and operating performances of the privatized enterprises shows a mixed result. Thernresult suggests that the profitability indicators ROS and ROA on average showed a betterrnperformance while ROE on average showed a decline. The efficiency measures both sales andrnincome efficiency showed a better performance in all the case firms and the industry [case firmsrntaken as industry] as a whole. While the efficiency measures in terms of the total and fixed assetrnturnover exhibited a declined performance. The performance indicators as measured by changesrnin output, change in employment has on average showed a positive increment. The leverage, asrnexpected as in the literature, resulted in a decline at industry level. The current ratio has alsornimproved after privatization. Moreover, the results indicated an increase in production perrnemployee. The findings of this research showed a mixed impact of privatization over firmsâ€™rnperformance