Rohm and Haas reports a “strong finish to the year”
Specialty chemicals manufacturer Rohm and Haas Company has reported strong fourth quarter and full-year results despite continued weaknesses in its North American Specialty Materials business.
Fourth quarter sales reached $2,343 million, 16% higher than in the same period in 2006, reflecting record sales for the company driven by a strong performance in its Electronic Materials, Salt and chemical businesses in developing economies, while for the full-year 2007, the company achieved sales of $8,897 million, an 8% improvement over 2006.
On a geographical basis, North American sales increased 12% to $1,117 million, reflecting a strong seasonal performance for the Salt business. Excluding Salt, sales in North America were down 1%. Sales in Europe improved 8% to $550 million, led by the favourable impact of currencies and strong growth in the Rapidly Developing Economies of Central and Eastern Europe, Russia and Turkey. Asia Pacific sales of $565 million were 32% higher, surpassing sales in Europe for the first time, largely as a result of strong demand across all businesses in the region. Latin America sales of $111 million were up 16% resulting from strong demand.
