Coatings World - December 2008 Buyers Guide

Financial News

DUPONT REPORTS SOLID THIRD QUARTER RESULTS DuPont has reported its third quarter results. For the companies Coatings & Color Technologies platform, sales of $1.8 billion were up seven percent over the same period last year. According to the company, higher selling prices and volume growth in Asia and Latin America more than offset lower volumes in North America and Europe. PTOI of $190 million was down seven percent.

from the SigmaKalon acquisition. Segment sales for the quarter were $632 million, up a double-digit percentage over SigmaKalon’s corresponding sales in 2007. Segment

earnings were $61 million and included a combined $30 million of ongoing quarterly depreciation expense and amortization related to acquired intangible assets. CW

^Experts ⁱⁿMISSION CRITICAL

PPG GROWTH CONTINUES IN 3Q PPG reported record sales for the third quarter of $4.2 billion, surpassing the prior year’s third quarter results by 37%. Third quarter reported net income was $117 million.

Performance Coatings segment sales in the third quarter 2008 increased $266 million, or 28%, versus the prior year’s quarter. Sales grew as a result of acquisitions, most notably the SigmaKalon protective and marine coatings business, higher pricing in all businesses and currency gains. Volumes were flat, as declines in the U.S. architectural coatings business were offset by growth in all other business units. Segment earnings improved by $8 million, or six percent, mostly due to the positive performance of acquisitions.

Industrial Coatings segment sales for the quarter increased $121 million, or 13%, due primarily to the acquisition of SigmaKalon’s industrial coatings business, stronger foreign currencies and improved selling prices. Volumes were lower, particularly sales into the automotive OEM industry. Segment earnings decreased by $41 million, or 46%, due to the negative effects of lower volumes and inflation.

The Architectural Coatings EMEA
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