Europe and Asia Drive European Earnings Growth

McAdam: Strength in developing markets. Healthy growth in Europe and Asia drove European chemical companies’ first-quarter earnings, despite weak demand in the U.S. Ciba Specialty Chemicals reported a more than doubling in net income, to SF106 million ($87.2 million), including restructuring, impairment, and other charges. Operating income rose 23%, SF134 million, excluding special items. Sales rose 3%, to SF1.66 billion. Selling prices fell slightly, Ciba says. Plastics additives sales rose, led by strong demand in Asia, and “particularly good”...

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