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People & Business :: Earnings/Finance
Momentive sales decline; earnings rise in specialty chemicals
1:04 PM MST | November 15, 2012 | Lindsay Frost
Momentive Performance Materials (MPM; Albany) and Momentive Specialty Chemicals (Columbus, OH), the thermoset resins business of Momentive, both reported drops in sales for the third quarter 2012—while Momentive Specialty reported a large rise in earnings, and MPM had a net loss in earnings. MPM reported net loss of $81 million for compared with a loss of $32 million in the same quarter 2011,, reflecting margin compression in certain product lines and a product mix shift due to declines in certain higher-margin products, the company says. Sales were...
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