Norwalk, Connecticut - Arch Chemicals Inc.'s sales of performance urethanes fell by $16.7 million to $35.8 million in the third quarter of 2009 (Q3) compared to the same period last year.
The decline in sales was attributable to lower pricing than Q3 2008 as a result of lower raw material costs and lower volumes because of the downturn in the US economy, a 4 Nov company statement said.
The US-based biocides company's Performance Products division, which houses its urethane activities, recorded sales of $40.8 million in Q3, down from $57 million in the same period last year.
Total company sales in the third quarter were $350.5 million, down from $367.9 million in Q3 2008.
"We remain on target to achieve our earnings forecast," said Arch Chemicals ceo, Michael Campbell. "While end-use demand for our products appears to have stabilised, we are not yet experiencing a marked recovery in demand," he added.
"Our results are benefiting from numerous supply chain, manufacturing and SG&A cost-reduction initiatives across all of our businesses," Campbell concluded. (RD)