Marine and Protective Coatings
Full-year revenue was up 11 percent, mainly due to favorable price/mix, currencies and increased volume for Marine Coatings. Demand in Protective Coatings was impacted by lower capital spending and delayed projects in the global oil and gas industries.
In Q4, revenue was up 9 percent, driven by volume growth, favorable price/mix and currencies. Marine new construction activity improved due to projects in Korea, as well as increased dry docking activity. Protective volumes to the offshore oil and gas market improved due to timing of specific projects.