Industrial Coatings experienced a strong quarter with revenue up 17 percent over last year. The growth was mainly attributable to higher volumes, pricing actions, and impact from an acquisition — offset by negative currency. The main driver of the growth has been Coil Coatings, which continues to be strong in all regions, especially in the Americas. Packaging Coatings’ food and beverage business also experienced another strong quarter, supported by European and Asian markets and the impact of the Lindgens’ acquisition. Specialty Plastics’ revenue decreased in the quarter, mainly due to lower revenue in wireless and IT segments in Asia and partially offset by a strong revenue increase in the automotive segment. The pressure of the raw material prices continues to be felt throughout the business. The acquisition of Schramm Holding AG was finalized in early October.
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