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Chemical Week Magazine :: Business & Finance :: United States/Americas
Earnings Mixed at Early-Reporting Chemical Firms
8:46 AM MST | January 21, 2011 | â€”KERRI WALSH AND NANCY SEEWALD
Fourth-quarter earnings were mixed at early reporting chemical companies. PPG Industries posted a big profit gain, while H.B. Fullerâ€™s results were dampened by special charges. PPGâ€™s earnings soared 44%, to $205 million ($1.24/share) including a $2-million asbestos-related charge. Sales rose 8%, to $3.4 billion. Higher selling prices and improved volumes in most businesses partially offset rising raw material costs. Earnings rose in all of PPGâ€™s segments except industrial coatings and architectural coatingsâ€•Europe, Mideast, and Africa. Profits in those...
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