Improved product mix and cost savings boost earnings at Cytec Coating Resins despite falling sales

摘要

Cytec's coating resins segment — now classified as discontinued operations due to the expected divestments of the businesses within the segment — posted a surge in earnings in the second quarter despite lower sales and volumes, particularly in Europe. The second quarter boost, however, was not enough to reverse a decline in earnings over the six months to end-June, leaving the segment 44% behind year-ago earnings at $51 million.