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Functional Chemicals

Performance in our Functional Chemicals business remains strong. As a result of successful growth platforms (Chelates and High Polymers), improved demand in our seasonal businesses (Elotex, Micronutrients, and Cellulosic Specialties) and a broad overall improvement in demand, volume increased 17 percent in the quarter. Revenue increased 23 percent fueled by volume, favorable currency effects and stable average pricing across the businesses. Effective margin management and cost savings have also contributed to the improved bottom line performance. The synergies from the merger of the former Polymer Chemical activities are materializing. In addition, the construction and start-up of the Ningbo expansion project in China is in the completion phase.

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