Ciba raises sales prices by 6% in third quarter
Speciality chemicals manufacturer Ciba has increased its sales prices by 6% in the third quarter of this year, in response to the cost of raw materials costs spiralling by 18% during 2008.
Speciality chemicals manufacturer Ciba has increased its sales prices by 6% in the third quarter of this year, in response to the cost of raw materials costs spiralling by 18% during 2008.
As a result its operational profitability in Q3 has improved significantly over that of Q2 with sales growth strong in Asia but slowing in Europe. Ciba’s growth profit margin of 26.5% was impacted by higher raw material prices and energy costs during the third quarter.
Brendan Cummins, ceo of Ciba comments on the news: “Sales prices increases have taken effect across the business. Coating Effects continued to maintain its high profitability levels and Water and Paper Treatment showed much better results. However, in Plastic Additives, demand started to drop significantly in August in a number of industries, notably automotive and construction, which severely impacted the results.”