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Markets :: Specialty Chemicals :: Paints and Coatings
Omnova Reports Earnings Up
11:02 AM MDT | July 25, 2007 | Chemical Week Editorial Staff
Omnova Solutions reported fourth-quarter earnings of $17 million, compared to $4.1 million in the final quarter of 2005. Sales were flat at $176.4 million. “Weakening market conditions, especially in the residential carpet industry, and record high styrene and butadiene costs negatively impacted our fourth quarter 2006 results,” says Kevin McMullen, Omnova’s chairman and CEO. “These issues offset much of the progress made on our financial objectives, as well as fundamental improvements in our paper chemicals, coated fabrics, and laminates...
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