The Advanced Interlayers business segment, which supplies the photovoltaic industry, was the driver of the sales and earnings growth with a seven percent sales increase. Earnings from this business segment were negatively impacted by higher raw material costs. Sales of USD$227 million were reported for Q3 2011.
In overall figures, Solutia reported sales of $519 million, bringing nine-month net sales to $1.57 billion, and eight percent increase from the same period in 2010.
The Performance Films and Technical Specialties business segments did not perform as strongly as the Advanced Interlayers segment, reporting a one percent increase and three percent decrease in net sales, year-on-year, in Q3.
In a statement announcing the results, Solutia Chairman, President and CEO said that geographic and end market diversity helped the company grow earnings in the face of higher raw material costs.
"We continue to adapt to the dynamics of today's slower global economic environment, seizing opportunities in emerging markets, closely controlling discretionary spending and positioning Solutia for sustainable earnings growth."
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.