Strong demand and the takeover of Cyro contribute to higher sales

Degussa high performance polymers business raised turnover by 7% to E288m, while the advanced polymer shapes PMMA products business climbed 27% to E406m, it revealed in its 2005 results in Dьsseldorf today. The company said there had been double-digit growth in high performance polymers in China, and large increases in energy and raw materials prices had been absorbed through “consequent cost management” so that earnings had increased.

Increased sales and the acquisition of Cyro contributed to the growth in the advanced polymer shapes business (PRW.com 26 April 2005). But earnings before interest and tax (ebit) were down against 2004, owing to “weak business in noise protection products in the Asian market” and increased energy and raw material prices that could not be fully absorbed. The acquisition of Cyro and “very dynamic market growth” also contributed to the 33% growth in turnover to E493m in Degussa’s methacrylates business. Degussa said a world-scale plant for MMA and MMA derivates will be built in China, ready in 2008/2009.