19 April 2013 13:57 [Source: ICIS news]
HOUSTON (ICIS)--Honeywell’s performance and technologies segment reported a 17% year-on-year increase in first-quarter profit, to $374m (€288m), mainly because of higher petrochemical catalyst shipments and equipment sales by its UOP petrochemicals business, as well as an acquisition, the US-based industrial conglomerate said on Friday.
The positive trends were only partially offset by planned plant outages in the segment’s resins, chemicals, and fluorine businesses, and lower sales volumes in advance materials, Honeywell said.
Performance and technologies segment sales for the three months ended 31 March were up 6% year on year to $1.72bn. The segment margin was 21.80%, up from 19.80% in the 2012 first quarter.
In addition to performance and technologies, Honeywell has three other segments: aerospace; automation and control; and transportation systems.
Honeywell’s overall 2013 first-quarter segment profit was $1.51bn, up from $1.42bn in the 2012 first quarter. Overall first-quarter sales were flat at $9.33bn.
($1 = €0.77)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections