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Wood Finishes and Adhesives

Revenue for Wood Finishes and Adhesives increased by 6 percent over last year, positively supported by currencies which compensated for the slightly lower volumes. The softening of market demand as of Q3 2010, most evident in the Americas and in the Asian export business, continued during Q1 this year. The main demand drivers for the industrial wood and adhesives markets include residential construction and remodeling activity. In Europe, the wood finishes markets performed better than last year, especially in the Northern and Eastern European region. In the mature markets, we continued to balance our activities while at the same time continuing to invest in growth markets. For example, new manufacturing capacity in Vietnam is on schedule to be commissioned in Q4, while we will also begin construction of a new board resin facility in Peru later this year.

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