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Industrial Coatings

Industrial Coatings had a good Q1, with revenue increasing 26 percent, mainly due to higher volumes and prices, the impact of the Lindgens Metal Decorating Coatings and Inks acquisition (4 percent) and currencies. The main drivers for the top line growth were strong markets in Packaging Coatings, Coil Coatings and increases in volume in Packaging Coatings, while Specialty Plastics had slightly lower volumes. Coil Coatings’ construction-related business had strong volumes in the first quarter in all markets compared with last year. Specialty Plastics saw volumes drop on 2010 in Asia in its wireless and IT business segments, while the automotive, cosmetics and lifestyle business segments increased volumes. Packaging Coatings’ beverage and food-related business showed a very strong increase in volumes compared with last year, with demand mainly coming from Europe and Asia Pacific.

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