IHS Chemical Week

Honeywell's materials unit posts strong earnings and sales gains

11:19 AM MST | January 24, 2014

Honeywell says segment profit in its performance materials and technologies unit rose 30% in the fourth quarter, to $272 million, on strong volume and productivity gains. Segment margins expanded 2.1 percentage points to 15.7%. Sales were up 12%, to $1.73 billion, driven by increased UOP catalyst and gas processing volume, and improved production volumes in advanced materials. Sales also benefitted from the acquisition of Thomas Russell, a provider of technology and equipment for natural gas processing and treating. Organic sales were up 9% in the quarter...

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