Jotun closes Egyptian plant

• Publisher: Elsevier Science
• Year: 2011
• Weight: 45 KB
• Volume: 2011
• Category: Article
• ISSN: 1364-5439
• DOI: 10.1016/s1364-5439(11)70036-3

✦ Synopsis

Earnings mixed at early-reporting chemicals firms: 4Q 2010

Early-reporting chemicals firms, PPG Industries, HB Fuller and Omnova Solutions, posted varying financial results for 4Q 2010. PPG reported a 44% increase in earnings to $205 M ($1.24/share) including an asbestos-related expense of $2 M. Sales were $3.4 bn, up 8%, on higher volumes and selling prices in most segments partially offset by increasing feedstock costs. Earnings improved in all PPG divisions excluding architectural coatings and industrial coatings in Africa, Europe and Mideast. PPG's performance coatings division posted a 14% hike to $170 M in profits, on higher volumes and lower cost structure. HB Fuller registered an 11% drop to $21.9 M ($0.44/share) in net income for 4Q ended 27 Nov 2010, on sales up 6% to $360.2 M. Omnova posted a net income of $81.5 M for 4Q ended 30 Nov 2010, up from $11.1 M in the same quarter last year. Sales grew 10% to $208 M. A table presents 4Q 2010 sales and earnings of PPG Industries, HB Fuller and Omnova Solutions.