Sovereign Reports Operating Results for 2002

April 17, 2003
/ Print / Reprints /
/ Text Size+
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.



Image Galleries

In-Depth Features

These articles detail advantages and innovations for multiple end uses.


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 April 2014 cover

2014 April

Our April issue focuses on pressure-sensitive adhesives, including a preview of PSTC's 2014 Tape Summit, as well as converting/packaging and composites!

Table Of Contents Subscribe


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

asi1211p_Cover-DE.gifASI'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. 

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.


facebook_40px twitter_40  youtube_40pxlinkedin_40