Rohm and Haas Reports
Second Quarter Sales
● Second quarter 2002 sales for the adhesives and sealants segment
of Rohm and Haas were $153 million, down four
percent from the same period in 2001. However, on a comparable
basis, excluding the sales of the liquid polysulfide
business, which the company exited in 2001, sales were
up six percent, according to the company.
Rohm and Haas reported demand increases in several
key segments, including flexible packaging, more environmentally
friendly adhesives and interior trim automotive
adhesives. Earnings on a comparable basis were
$6 million in the second quarter 2002, down from $9 million
in the same period last year, primarily due to
research and engineering costs associated with the
redesign of its manufacturing and laboratory network,
according to the company.
The coatings business unit of Rohm and Haas reported
sales of $509 million for the second quarter of 2002, up
three percent from the same period in 2001. Architectural
and functional coatings, as well as automotive coatings
were key factors in the improvement. Business performance
was driven by higher demand in the paint sector,
particularly the consumer segments, and stronger new
car production in North America. While consumer-driven
market segments seemed to improve over the comparable
period in 2001, industrial segments remain weak, as powder
coatings sales were down four percent from last year,
according to the company.