Adhesives & Sealants Headlines

Sovereign Reports Operating Results for 2002

CHICAGO - Sovereign Specialty Chemicals, Inc., announced its operating results for the calendar year ended December 31, 2002. Net sales for 2002 were $361.1 million compared to $356.7 million in 2001. Operating income was $25.4 million in 2002 compared to $19.4 million in 2001.

Commenting on the results, Norman E. Wells Jr., Sovereign's CEO, said, "Sovereign had a solid year despite the fact that we continued to experience challenging specialty-chemical industry conditions, with end-market demand down in several of the markets served through our commercial segment. In addition, while we maintained top-line growth in both the commercial and construction segments in 2002, our financial performance fell short of management's expectations. As a result, we took aggressive action in a number of areas to enhance overall productivity and efficiency, including facility and product-line rationalizations and lean-manufacturing initiatives at many of our plants."

For more information, visit http://www.sovereignsc.com.

Did you enjoy this article? Click here to subscribe to Adhesives & Sealants Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

ASI April 2014 Photo Gallery

Our April 2014 issue is now available!

Podcasts

ExxonMobil Tackifier Expansion

Dwight Tozer, vice president of ExxonMobil’s Adhesion Industry business, discusses the company’s latest tackifier expansion project with Editor-in-Chief Susan Sutton.



More Podcasts

Adhesives & Sealants Industry Magazine

ASI June 2015 cover

2015 June

Welcome to our annual Dispensing & Curing Equipment Directory!
Table Of Contents Subscribe

"Cultural Fit"

A recent opinion piece in the New York Times observed that new employees are often hired based on the personal similarities they share with their interviewers. How important is “cultural fit” when hiring someone?
View Results Poll Archive

THE ADHESIVES STORE

handbook-sealant-tech.gif
Handbook of Sealant Technology

The Handbook of Sealant Technology provides an in-depth examination of sealants, reviewing their historical developments and fundamentals, adhesion theories and properties, and today’s wide range of applications.

More Products

ASI 2014 Buyers GuideASI's Buyers' Guide

Annual purchasing resource for equipment used in the manufacture/formulation of adhesives, sealants, pressure sensitives, tapes and labels and for application of finished adhesives. 

STAY CONNECTED

facebook_40px twitter_40  youtube_40pxlinkedin_40 google+ icon ASI 30px

Clear Seas Research

With access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.