Specialty Earnings Reflect Downturn in Sales

Second-quarter earnings at specialty chemical companies were mostly stagnant or down as the recession in Europe and the slowdown in China put a damper on demand. Most companies expect growth to be tepid for the remainder of the year. Ecolab and Ashland reported rises in net income due to acquisitions. Some companies were able to maintain earnings due to strong pricing in the face of weak sales. Many specialty companies also say that lower raw-material prices should be a favorable trend in the second half. Ecolab’s second-quarter net income was up 47%...

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