Revenue was up 5 percent (8 percent on a constant currency basis) driven by a 7 percent price increase. Industrial Coatings showed the strongest growth. At segment level, Marine remains affected by the shortfall in New Construction and Wood Asia continues to be weak because of its exposure to the US housing market. We continue to manage our selling prices in response to the high raw material costs. Our margins have been affected by high raw material costs as well as negative mix effects, particularly in high growth economies. Cost control and restructuring efforts in mature markets are ongoing and continue to support performance as do recent acquisitions. In the beginning of October we also finalized the acquisition of Schramm Holding AG.
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