Momentive Specialty Chemicals Posts Profit Gain; Performance Materials' Loss Widens

 Momentive Specialty Chemicals reported second-quarter net income of $63 million, up 21% from the same period last year, on sales up 17%, to $1.4 billion. The company cites volume and pricing gains. “Our operating leverage and strong performances in our oilfield resins, base epoxy resins, phenolic specialty resins, North American formaldehyde and our Latin America forest products businesses drove a 22% gain in second-quarter segment Ebitda compared to the second quarter of 2010,” says Craig Morrison, chairman, president, and CEO. “We...

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