Higher Volumes and Prices Push Up Specialty Earnings

U.S. specialty chemical producers mostly reported increases in fourth-quarter earnings because of higher sales volumes and selling prices, as well as a slowdown in the rise of raw material costs, they say. Suppliers to the specialty chemical industry say their selling prices fell faster than their raw material costs declined (CW, Jan. 31, p. 8). Cytec Industries reported net income up 42%, to $37.4 million (76 cts/share), before special items. Earnings were $83.4 million ($1.70/share) including charges and other special items. Sales volumes from the engineered...

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