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Axiall earnings jump on acquisition of PPG's chlor-alkali business

8:02 PM MDT | July 31, 2013 | Robert Westervelt

Axiall reported sharply higher net income and sales due to benefit from the January acquisition of PPG Industries’ chlor-alkali business. Net income attributable to Axiall rose to $73 million in the second quarter, up from $14 million in the year-ago quarter. Sales rose 47%, to $1.3 billion. Reported adjusted earnings were $1.19/share, up from 51 cts in the same year-ago quarter, and 2 cts above analyst estimates as reported by Thomson Reuters (New York). The company’s chlorovinyls segment posted adjusted Ebitda of $178  million in the second...

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