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Honeywell's chemicals unit reports a 6% drop in fourth-quarter earnings

8:32 AM MST | January 25, 2013 | Rebecca Coons

Honeywell's performance materials and technologies (PMT) unit reported a 6% drop in fourth-quarter profit, to $210.0 million, on lower margins, lower sales by Honeywell's UOP catalysts subsidiary, unfavorable raw material costs, resins and chemicals production, and challenging end-market conditions. PMT sales were up 8.0%, to $1.43 billion, on 2.0% organic growth and the acquisition Thomas Russell, a plant components maker serving the gas processing industry. Petrochemical and refining catalyst volumes were lower, although Advanced Materials sales were up...

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