OM GROUP.(acquisition of Degussa Metals Catalysts Cerdec improves finances)(Brief Article)(Statistical Data Included)

Chemical Market Reporter, November, 2001

The August acquisition of Degussa Metals Catalysts Cerdec ([dmc.sup.2]) has been a boon to OM Group Inc.'s third quarter sales. For the quarter ended September 30, OM reported net sales of $833.3 million compared to $233.4 million a year ago, an increase of about 257 percent. For the nine month period, OM's net income increased by roughly 15 percent to about $60.3 million, with revenues up 96 percent to about $1.286 billion.

[dmc.sup.2]'s precious metal chemistry and metal management operations added about $658.3 million to OM'S sales. Without them, OM'S base metal chemistry unit would have reported sales of about $174.9 million, a drop of about 25 percent from that unit's sales from a year ago. This drop is due to weak global economic conditions and...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.