Specialty Chemical Earnings Mixed; Energy Costs Rise

European specialty chemical companies reported mixed results for fourth-quarter 2006. Specialty makers say they were able to increase selling prices across some of their businesses, but energy costs continued to rise during the quarter. Sales volumes improved, but businesses serving the North American automotive and construction markets were hurt, producers say. Cummins: Takes the CEO helm next year. Ciba Specialty Chemicals reported net income of SF84 million ($67.5 million), compared with a net loss of SF476 million, on flat sales of SF1.55 billion...

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