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Chemicals Pakistan

Our Chemicals Pakistan business performed well in the first quarter. Volume increased 6 percent as demand for our polyester, life sciences and general chemicals was strong. The volume development in these businesses more than offset the negative developments in the Soda Ash business, where volume was hindered by reduced gas availability. Based on the collective volume increase and higher selling prices, revenue increased 32 percent over the first quarter of 2010. Raw material cost escalation and disruptions in energy supply created downward pressure on margins. However, the volume growth and margin improvements resulted in an increase in profitability.

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