✦ LIBER ✦
Cytec completes UCB unit buy, reorganizes business units
- Publisher
- Elsevier Science
- Year
- 2005
- Weight
- 37 KB
- Volume
- 2005
- Category
- Article
- ISSN
- 1364-5439
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✦ Synopsis
Quarterly volumes up; costs crimp profits
Results for paint and coating producers in 4Q 2004 are discussed. PPG Industries saw a 9% fall in operating earnings, due to a $40 M increase in the costs of raw materials. Earnings for Akzo Nobel's coatings business in 2004 as a whole rose 2% to €421 M on sales, which were up 2% at €5.25 bn, due to a robust economy in the US combined with the fast-growing Asia/Pacific. Results for Sherwin-Williams fell short of expected estimates. Valspar will not meet expectations for 1Q 2005, ending 28 Jan 2005, due to the high cost of raw materials.