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April 27, 2016 12:00 AM

Stepan polymer sales up in Q1 2016

Jane Denny
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    Total sales in the firm’s polymer segment, which includes its polyurethane polyol business, were $113.9m (EUR100m) in Q1, 2016 $4.5m higher than Q1, 2015, the firm said.

    In fact, sales of foams for insulation panels accounted for an overall hike of $19.3m on q1 2016 but lower selling prices across the segment reduced the net sales figure by $12.2m. A further $2.6m was lost to currency translation effects, namely the dollar’s relative strength.

    Operating income increased $7.4m or 50% versus the prior year period.  The improvement was primarily attributable to volume growth in North America and Europe. Lower raw material costs also impacted results, Stepan said.

    XE currency conversion: 27 April, 2016

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