Strong Volumes and Cost Cutting Help Lift Full-Year Earnings

Most late-reporting European chemical companies announced increases in full-year 2006 earnings, which several companies attribute to improved volumes and cost-cutting programs. Raw material costs, however, continued to rise last year, and are expected to remain at high levels this year, producers say. Air Liquide says gas and services sales improved by 6%, to €9.6 billion, lead by strong growth in Asia. Revenue growth was also strong in the Americas, and sales volumes improved in Europe, Air Liquide says. Operating income for the division rose 8%, to...

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