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Headwinds Hit Momentive Profits
9:10 AM MDT | October 18, 2011 | Rebecca Coons
Both Momentive Specialty Chemicals and Momentive Performance Materials reported preliminary third quarter earnings down from the same period last year, citing economic uncertainty among its customers and tightening credit in China. Momentive Specialty Chemicals is expected to post operating income of $93-$104 million for its fiscal third quarter ended September 30, 44%-50% lower than the same period last year. Sales are expected to be flat at $1.2 billion. "Due to the recent economic uncertainty, we have seen some caution among our customers negatively...
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