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Momentive Specialty Chemicals Returns to Profit; Performance Materials Still in the Red
9:49 AM MDT | May 13, 2011 | Nancy Seewald
Momentive Specialty Chemicals reported first-quarter net income of $63 million, compared with a loss of $7 million in the same period last year. The company cites higher volumes, improving margins, and ongoing productivity programs. Sales rose 27%, to $1.4 billion, on volume gains and higher selling prices. “Strong performance in our specialty products, including oilfield proppants and Versatic acids and derivatives, as well as continued year-over-year gains in our base epoxy resins drove the significant increase in sales and segment Ebitda in the first...
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