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BORDEN CHEMICAL REPORTS THIRD QUARTER RESULTS
November 15, 2004
Borden Chemical recently reported growth in volumes, sales and earnings before interest, taxes, depreciation and amortization, as well as a net loss due to certain non-recurring events, during its third quarter ended Sept. 30. The period was highlighted by: volume growth for the quarter of 8.7 percent compared to the previous year period; earnings before interest, taxes, depreciation and amortization (Segment EBITDA) totaling $38.4 million for the quarter versus $37.6 million for the third quarter 2003; adjusted EBITDA of $44.1 million versus $43.9 million for the third quarter 2003; and completion of the sale of the company to investment firm Apollo Management, L.P. Sales for the quarter totaled $432.9 million versus $358.3 million for the same period last year, with the 21 percent increase resulting primarily from higher-selling prices and increased volumes. The sales volume increase for the period reflects continued strength in domestic and international wood and industrial markets.