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People & Business :: Earnings/Finance
Momentive Specialty Chemicals sales rise
August 14, 2014 | Vincent Valk
Momentive Specialty Chemicals (MSC) has announced a second-quarter net loss of $27 million, roughly flat year-on-year (YOY), on net sales up 7%, to $1.34 billion. The company, which is privately held, reported operating income up 16% YOY, to $57 million. The net loss was mostly due to $76 million in interest payments. MSC is owned by private equity firm Apollo Management (New York). Momentive’s other arm, Momentive Performance Materials (MPM), recently filed for Chapter 11 bankruptcy protection. “Our North American forest products, oilfield and...
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