OMNOVA Third Quarter Sales Rise 2%
Chase Corp., which was sold at the end of July 2017, accounted for $0.9 million of sales in this year's third quarter and $5 million in last year's comparable quarter.
OMNOVA Solutions Inc. recently announced net sales for the third quarter were $200.9 million, up 2.7% from last year's $195.6 million. Chase Corp., which was sold at the end of July 2017, reportedly accounted for $0.9 million of sales in this year's third quarter and $5 million in last year's comparable quarter. Excluding the effect of CCF, sales increased 5.2%. Sales in specialty solutions increased 7.5% to $115.1 million, while sales in performance materials increased 2.3%, excluding the effect of Chase.
"During the quarter, we continued to make progress on our key strategic initiatives. I am particularly pleased with the margin expansion during the quarter as we recaptured the entirety of our pricing and margin shortfalls from the styrene and butadiene cost increases earlier in the fiscal year. We also saw volume growth in our specialty segment despite a strong quarter for oil and gas in last year's third quarter related to initial orders for a new customer," said Anne Noonan, president and CEO.
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