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WR Grace & Co has reported that 2Q 2007 (period ends 30 Jun 2007) sales for the Grace Davison operating segment, which includes silica-and alumina-based catalysts and materials used in a wide range of industrial applications, were $438.7 M (+15.4% on its 2Q 2006). The primary factors contributing to the sales increase were: selling price increases that partially offset higher raw material costs; higher volume of fluid catalytic cracking catalysts in most geographic regions from stronger economic activity and from the success of strategic growth initiatives; and favourable translation effects from sales denominated in foreign currencies. Pre-tax operating income was $60.6 M ($46.3 M) and operating margin was 13.8% (12.2%). The improvement in operating income and margin is principally attributable to higher selling prices and higher volumes, a better product mix, and successful productivity initiatives. Sales of the Grace Davison operating segment for 1H 2007 were $826.4 M (+12.2% on its 1H 2006), operating income was $105.6 M (+28.3%), with operating margins at 12.8% (11.2%). Year-to-date operating results reflect higher sales in most product groups and in regions other than North America, partially offset by the negative effects of higher raw material costs.
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