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Honeywell Specialty Materials First-Quarter Profits Rise

1:52 PM MDT | July 25, 2007 | Chemical Week Editorial Staff

Honeywell’s specialty materials unit posted first-quarter segment profit of $192 million, an 18.5% gain over the year-ago quarter. Sales increased 4%, to $1.2 billion, driven by stronger than expected performance at UOP, partly offset by lower refrigerant sales. Sales from fluorine products decreased 11% due to pricing pressure. Resins and chemicals recorded a 6% sales decrease, while specialty products posted a 2% sales increase. Specialty materials improved its profit margin by 1.9 percentage points, to 16%, due to a favorable sales mix as well as price...

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