Eastman's fiber division's external sales earnings up 13%
29 Jul '05
6 min read
Performance Chemicals and Intermediates – The segment's external sales revenue was up by 27 percent due to higher selling prices and increased sales volume, both primarily in the intermediates product lines and attributed to an upturn in the olefins cycle. Operating earnings increased substantially as a result of higher selling prices, increased sales volume and the effect of continued cost reduction efforts that more than offset higher raw material and energy costs.
Specialty Plastics – External sales revenue increased by 17 percent due to higher selling prices and increased sales volume. The higher sales volume was attributed mainly to continued strong demand for products in new applications, especially in copolyesters for consumer and medical goods.
Operating earnings excluding asset impairments and restructuring charges declined slightly as higher sales revenue was more than offset by increased raw material and energy costs, and expenditures related to growth efforts. Voridian Division Results 2Q 2005 versus 2Q 2004
Polymers – External sales revenue increased by 25 percent primarily due to higher selling prices. The increased selling prices were mainly the result of efforts to offset volatile raw material and energy costs, particularly for paraxylene and ethylene glycol. Operating earnings increased as higher selling prices and reduced costs attributed to ongoing cost reduction efforts more than offset higher raw material and energy costs, resulting in improved margins primarily in the North American PET and polyethylene markets.
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