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    Home > Coatings News > Paints and Coatings Market > Clariant's sales continue to improve in the plastics and coatings business segment moving slowly

    Clariant's sales continue to improve in the plastics and coatings business segment moving slowly

    • Last Update: 2019-05-15
    • Source: Internet
    • Author: User
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    , specialty chemical company Clariant announced that sales for the first quarter of 2019 totalled CHF 1,715 million, down from CHF 1,722 million a year earlierDespite the high base of comparison, organic sales increased by 2 per cent in local currency terms, thanks to price increases in all business areassub-region, sales in Latin America and Europe, the Middle East and Africa both posted single-digit growth in local currency terms, while sales in North America and Asia posted negative growth of 1%Continued weakness in Chinese demand adversely affected the group's sales growth in the first quarter's first quarter 2019 sales performance was helped by growth in the three major areas of care chemicals, catalysts and natural resourcesSales of care chemicals rose 2% year-on-year in local currency, despite the adverse effects of a contraction in the aviation de-icing business caused by the warm winterIn addition to the aviation business, sales of care chemicals achieved a moderate single-digit increase in local currency termsThis growth was mainly due to significant growth in the consumer care businessThe catalyst business performed well, with sales in local currency, up 4 per cent year-on-year in the first quarter of last yearSales in the natural resources segment increased by 10% in local currency terms, mainly due to increased demand for oil and mining services and steady growth in functional mineralssales in the plastics and coatings business fell 2 per cent year-on-year in local currency terms, mainly due to poor lying growth in the automotive and plastics markets and a slowdown in the global economy, particularly in ChinaBut china's underlying demand remains strong, and Clariant expects to improve gradually for the rest of 2019's latest report showed EBITDA of 236 million Swiss francs, excluding special items, with an EBITDA rate of 13.8%Absolute EBITDA, excluding special items, fell 8 percent, due to a decline in profitability in the plastics and coatings segment and higher project costs due to Clariant's announcement in September 2018 of its transition to a high-value specialty chemicals companyAt present, the work of the relevant projects is progressing very wellThe Care Chemicals and Catalysts segment has seen significant growth compared to the previous year, and the Natural Resources segment has achieved a better profitability than the same period last year" In the first three months of this year, Clariant achieved continued organic sales growth despite challenging macroeconomic conditions Ernesto Occhiello, Clariant's chief executive, said: "We are committed to delivering the best customer experience in the industry, as well as meeting the needs of our customers quickly and reliably, which is reflected in the development of the three business areas of care chemicals, catalysts and natural resources Despite the negative impact on the plastics and coatings business from the current economic and business environment, we believe we are in a position to make progress throughout the year We will continue to identify future challenges for our customers and meet their future needs to achieve higher-than-average market growth, higher profitability and stronger cash generation "
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