the three months and sales of $433.6 million the first nine
months of its fiscal year, with positive performance reported
by its performance coatings and finishes unit.
Sales of the performance coatings and finishes group
were higher than in the third quarter of 2002, which the
company attributed to the impact of currency exchange
rates on foreign operations. Segment income, however,
declined slightly due to higher costs. Sales of protective
coatings, especially in the U.S. and Europe, remained weak
due to poor demand by chemical/industrial markets,
according to the company.
Demand for offshore and marine coatings improved.
Future improvements by the group remain dependent on
increased demand by industrial markets in the U.S. and
Europe, according to the company.