Lehigh Valley, Pennsylvania -- Air Products’ electronics and performance materials segment made sales of $579m (EUR424m) in the first quarter of 2014, a company report stated.
The hike was based on sales of 6% higher volume than the first quarter in 2013 but it represented a 5% increase in turnover compared to the previous year’s corresponding quarter.
Performance materials was up 8% “with all product lines and all major regions showing positive growth’ according to the company.
John McGlade, chairman, president and CEO, said cost reductions in the first quarter had contributed to a higher operating income.
“We continued to execute on our strong backlog bringing on major new plants in China,” he said.