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Powder Coatings

Activity levels were strong during the third quarter, with volume levels up in all businesses. Revenue was up 50 percent, mainly due the acquired powder coatings activities (32 percent) and favorable currencies. Business in the Asian and East European regions showed a strong performance and activity increased in the automotive business in the Americas. The integration of the acquired powder coatings activities is proceeding according to plan and we have announced the closure and downsizing of a number of manufacturing sites in Europe and China. In addition, we have announced a new, dedicated customer and technical service center in Thailand to support our local business.

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