Automotive and Aerospace Coatings’ revenue decreased by 1 percent over previous year, negatively affected by currencies, acquisition and divestment activities. Volumes remained flat in the quarter — with growth attributed to Asia’s trade segments and Aerospace offset by lower Vehicle Refinishes volumes in mature Europe. CV-OEM volumes remained constant supported by continuing demand in the US and Western Europe. Aerospace Coatings experienced a strong quarter, benefitting from increased production rates at Boeing and Airbus and high demand from Russia. Raw material price pressure continues to affect all the segments of our business. Automotive and Aerospace Coatings was selected by Toyota Motors Europe (TME) as the preferred supplier for its European dealers and official body shops.
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