Ciba achieves strong Q1 sales growth
Ciba Speciality Chemicals has reported first quarter sales of CHF1.645 million ($1.29 million) compared with CHF1.486 million in 2005, up 11% in Swiss francs and 5% in local currencies.
Volumes were 5% higher, supported by improved demand, most notably in the automotive and plastic industries and while the businesses most exposed to high raw material costs pushed through further price increases, overall sales prices for the quarter were flat.
All regions showed sales growth in local currencies, with sales in
Coating Effects sales were CHF485 million, up 10% in Swiss francs and 5% in local currencies from CHF441 million in the first quarter of 2005.
Following the February 2006 announcement that a definitive agreement has been reached to sell the Textil Effects business to US chemical company Huntsman, the company stated that the separation process was well on track and closing is expected in the third quarter. The Textile Effects segment continues to perform operationally in accordance with expectations.
