Noveon Reports Sales Decrease for 2001
lThe performance coatings segment of Noveon, Inc. reported that fourth quarter sales decreased 14% from $101.9 million compared to $87.5 million in the fourth quarter one year ago due to volume declines resulting from lower demand from customers in the paper and packaging, and textile industries.
For the full year, the performance coatings segment reported sales of $381.9 million, down 17% compared to the prior year. The firm attributed the drop to volume declines resulting from lower demand from customers in the paper and packaging, and textile industries and the impact of the disposition of the textile dyes business.