Financial News

Third Quarter Results

August 10, 2005

Kemira: Third quarter paint and coatings sales dropped five percent to E122 million. For the nine-month period, sales were down three percent at E355 million. Third quarter operating income was E15 million, and for the nine-month period it was E36 million.

l Ferro: The coatings segment reported a sales gain 5.1% to $262.6 million in the third quarter. Segment income from continuing operations was $22.6 million, down from the $26.3 million Ferro recorded in the same quarter last year.

l Sico: For the third quarter ended Sept. 26, Sico’s sales were $80.1 million, a 18.3% gain over the same quarter in 2002. The company attributed the improvement to a 23.3% increase in architectural sector sales, which rose $70.3 million due to the including of Para, Inc.’s sales. Excluding Para’s sales and also sales of the Hancock chain divested at the end of the last fiscal year, architectural sector sales rose 7.4%. Sico’s industrial sales dropped 8.1% to $9.8 million. The company attributed the decline to weak markets in North America, especially in specialized machinery in the U.S.
For the nine-month period, sales rose 8.3% to $225.5 million, with architectural sales up 10% and industrial sales down 1.3% to $193.9 million and $31.6 million, respectively.

l Rohm and Haas: The coatings business’s third quarter sales were $559 million, a 14% increase compared to the same period one year ago. The company attributed the gain to the impact of Ferro’s European powder coatings

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