US Rockwood Q3 net income jumps to $1.1bn on gain from divestment

12 November 2013 13:19  [Source: ICIS news]

LONDON (ICIS)--Rockwood reported third-quarter net income of $1.1bn compared with $59.6m in the same period a year ago, as results included a $1.06bn gain, primarily related to the divestment of its Advanced Ceramics business, the US-based specialty chemicals firm said on Tuesday.

Excluding this gain, adjusted net income for the three months ended 30 September was $48.2m (€36.2m), down from $73.3m in the same period a year ago, mainly because of lower selling prices for titanium dioxide (TiO2), Rockwood said.

However, Rockwood said that its core lithium and surface treatment businesses performed well during the third quarter.

The company’s third-quarter net sales were $345.8m, up 7.8% year on year from $320.9m in the 2012 third quarter.

In September, Rockwood agreed to sell its TiO2 and its performance additives businesses to Huntsman.

($1 = €0.75)

By: Stefan Baumgarten
+1 713 525 2653

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