Norwalk, Connecticut -- Arch Chemicals Inc. has reported performance urethanes sales up 26 percent to $43.1 million for the second quarter of 2010 (Q2) compared to the same period last year, a 4 Aug company statement said.
Arch said the increase in sales was due to higher pricing, driven by increased raw material costs.
For the first six months of 2010, performance urethane sales were up to $82.8 million from $75.3 million in the first half of 2009, the company added.
Performance Products, the business division which houses Arch's performance urethanes, reported sales of $47.3 million and operating income of $1 million in Q2, compared to sales and operating income of $38.1 million and $1.2 million, respectively, in 2009.
Volumes in the division were consistent with 2009 levels as higher demand for propylene glycol products was offset by the ending of a long-term manufacturing contract at the end of 2009, the company said.
"Cost controls and working capital management continue to be a top priority for our businesses and contributed to our excellent results during the quarter," said Arch Chemicals ceo Michael Campbell.
Arch said it expects full-year 2010 sales to be around 9-11 percent higher than sales for 2009. (RD)