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4 MARCH 2011 FOCUS ON POWDER COATINGS Earnings mixed at early-reporting chemicals firms: 4Q 2010 Early-reporting chemicals firms, PPG Industries, HB Fuller and Omnova Solutions, posted varying financial results for 4Q 2010. PPG reported a 44% increase in earnings to $205 M ($1.24/share) including an asbestos-related expense of $2 M. Sales were $3.4 bn, up 8%, on higher volumes and selling prices in most segments partially offset by increasing feedstock costs. Earnings improved in all PPG divisions excluding architectural coatings and industrial coatings in Africa, Europe and Mideast. PPG’s performance coatings division posted a 14% hike to $170 M in profits, on higher volumes and lower cost structure. HB Fuller registered an 11% drop to $21.9 M ($0.44/share) in net income for 4Q ended 27 Nov 2010, on sales up 6% to $360.2 M. Omnova posted a net income of $81.5 M for 4Q ended 30 Nov 2010, up from $11.1 M in the same quarter last year. Sales grew 10% to $208 M. A table presents 4Q 2010 sales and earnings of PPG Industries, HB Fuller and Omnova Solutions. Chemical Week, 24 Jan 2011, (Website: http://www.chemweek.com) PPG reports record 4Q 2011 sales, earnings/share PPG Industries (PPG) reported record sales for 4Q ended Dec 2010 of $3.4 bn. Reported net income for 4Q 2010 increased to $205 M, or $1.24/share. For 4Q 2009 sales were $3.1 bn, and reported net income was $142 M, or 85 cts/share. PPG’s 4Q 2010 adjusted net income was $207 M, or $1.25/share (adjusted net income of $144 M, or 86 cts/share in 4Q 2009). PPG’s annual sales for year ended DEc 2010 were $13.4 bn, (+10% over $12.2 bn in 2009). PPG’s 2010 adjusted net income was $862 M, or $5.18/share, (adjusted net income of $485 M, or $2.94/share in 2009). Reported net income for 2010 increased to $769 M, or $4.63/ share (reported net income was $336 M, or $2.03/share in 2009). Performance Coatings segment sales in 4Q 2010 increased $76 M, or 7%, over 4Q 2009 as a result of higher selling prices and volumes that improved in every region. Volumes in the architectural coatings – Americas and Asia/Pacific business were flat. Segment earnings grew $21 M, or 14%, to a record $170 M as a result of the volume gains and a lower cost structure. Industrial Coatings segment sales for 4Q 2010, rose $90 M, or 10%, versus 4Q 2009. Segment earnings for 4Q 2010 were $79 M, a decrease of $10 M from 4Q 2009. Sales for the Architectural Coatings – EMEA (Europe, Middle East and Africa) segment for 4Q 2010 decreased $31 M, or 7%, from 4Q 2009. Segment earnings declined $9 M due to the lower sales volumes. The Optical and Specialty Materials segment delivered record 4Q 2010 sales and earnings. Segment sales for 4Q 2010 increased $23 M, or 9%, over 4Q 2009. Segment earnings improved $10 M to $57 M, primarily as a result of the higher sales volumes, offset slightly by increased selling and advertising costs to support the sales growth. Commodity Chemicals segment sales for 4Q 2010, increased $70 M, or 23%, versus 4Q 2009 due to higher pricing. Segment earnings for 4Q 2010 grew $65 M due to the improved pricing, partially offset by higher maintenance costs. Glass segment sales increased $35 M, or 16%, for 4Q 2010 as a result of improved volumes and pricing. Segment income was $29 M, an improvement of $28 M due to lower manufacturing costs, higher volumes and the impact of higher pricing. PPG Industries’ vision is to continue to be the world’s leading coatings and speciality products company. Founded in 1883, the company serves customers in industrial, transportation, consumer products, and construction markets and aftermarkets. The financial figures for the company are presented in tables. PPG results 4Q and 2010, 20 Jan 2011, (PPG Industries Inc, One PPG Place, Pittsburgh, PA 15272, USA, tel: +1 412 434 3131, website: http://www.ppg.com) Jotun closes Egyptian plant Jotun shut down all production and other activities at its plant in Ismaila, Egypt, until further notice in January, and the 290 employees were asked to stay at home and protect their families and property. No employees were known to have been hurt by or participated in the unrest at the time. Hegnar Online, 30 Jan 2011, (Website: http://www.hegnar.no) (in Norwegian) Jotun plans for GCC growth in 2011 Jotun Powder Coatings aims to attain a 15% growth in the Gulf Cooperation Council (GCC) nations during 2011. A subsidiary of Norway-based Jotun Group, Jotun Powder Coatings UAE aims to focus on product innovation and to formulate renewable and technologically advanced coatings to satisfy the diverse requirements of different user industries during its next strategic period. PPCJ, Polymers, Paint, Colour Journal, Jan 2011, 201 (4556), 8 (Website: http://www.polymerspaintcolourjournal.com/) Oxea hikes neopentyl glycol output in line with demand growth Oxea intends to boost capacity for neopentyl glycol (NPG) to 45,000 tonnes/y at its site in Oberhausen, Germany by mid- 2011, in response to rising global demand for the material for use in eco-efficient powder coating resins and lubricants. Oxea’s expansion plan follows LG Chem’s announcement that it will

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Page 1: Jotun closes Egyptian plant

4 MARCH 2011

F O C U S O N P O W D E R C O A T I N G S

Earnings mixed at early-reportingchemicals firms: 4Q 2010

Early-reporting chemicals firms,PPG Industries, HB Fuller andOmnova Solutions, posted varyingfinancial results for 4Q 2010.PPG reported a 44% increase inearnings to $205 M ($1.24/share)including an asbestos-relatedexpense of $2 M. Sales were$3.4 bn, up 8%, on highervolumes and selling prices inmost segments partially offset byincreasing feedstock costs.Earnings improved in all PPGdivisions excluding architecturalcoatings and industrial coatings inAfrica, Europe and Mideast.PPG’s performance coatingsdivision posted a 14% hike to$170 M in profits, on highervolumes and lower cost structure.HB Fuller registered an 11% dropto $21.9 M ($0.44/share) in netincome for 4Q ended 27 Nov2010, on sales up 6% to $360.2M. Omnova posted a net incomeof $81.5 M for 4Q ended 30 Nov2010, up from $11.1 M in thesame quarter last year. Salesgrew 10% to $208 M. A tablepresents 4Q 2010 sales andearnings of PPG Industries, HBFuller and Omnova Solutions.

Chemical Week, 24 Jan 2011, (Website:http://www.chemweek.com)

PPG reports record 4Q 2011 sales,earnings/share

PPG Industries (PPG) reportedrecord sales for 4Q ended Dec2010 of $3.4 bn. Reported netincome for 4Q 2010 increased to$205 M, or $1.24/share. For 4Q2009 sales were $3.1 bn, andreported net income was $142 M,or 85 cts/share. PPG’s 4Q 2010adjusted net income was $207 M,or $1.25/share (adjusted netincome of $144 M, or 86cts/share in 4Q 2009). PPG’sannual sales for year ended DEc2010 were $13.4 bn, (+10% over$12.2 bn in 2009). PPG’s 2010adjusted net income was $862 M,or $5.18/share, (adjusted netincome of $485 M, or $2.94/sharein 2009). Reported net income for

2010 increased to $769 M, or$4.63/ share (reported net incomewas $336 M, or $2.03/share in2009).

Performance Coatings segmentsales in 4Q 2010 increased $76M, or 7%, over 4Q 2009 as aresult of higher selling prices andvolumes that improved in everyregion. Volumes in thearchitectural coatings – Americasand Asia/Pacific business wereflat. Segment earnings grew $21M, or 14%, to a record $170 Mas a result of the volume gainsand a lower cost structure.Industrial Coatings segment salesfor 4Q 2010, rose $90 M, or10%, versus 4Q 2009. Segmentearnings for 4Q 2010 were $79M, a decrease of $10 M from 4Q2009. Sales for the ArchitecturalCoatings – EMEA (Europe,Middle East and Africa) segmentfor 4Q 2010 decreased $31 M, or7%, from 4Q 2009. Segmentearnings declined $9 M due tothe lower sales volumes. TheOptical and Specialty Materialssegment delivered record 4Q2010 sales and earnings.Segment sales for 4Q 2010increased $23 M, or 9%, over 4Q2009. Segment earnings improved$10 M to $57 M, primarily as aresult of the higher salesvolumes, offset slightly byincreased selling and advertisingcosts to support the sales growth.Commodity Chemicals segmentsales for 4Q 2010, increased $70M, or 23%, versus 4Q 2009 dueto higher pricing. Segmentearnings for 4Q 2010 grew $65 Mdue to the improved pricing,partially offset by highermaintenance costs. Glasssegment sales increased $35 M,or 16%, for 4Q 2010 as a resultof improved volumes and pricing.Segment income was $29 M, animprovement of $28 M due tolower manufacturing costs, highervolumes and the impact of higherpricing.

PPG Industries’ vision is tocontinue to be the world’s leadingcoatings and speciality productscompany. Founded in 1883, thecompany serves customers in

industrial, transportation,consumer products, andconstruction markets andaftermarkets. The financial figuresfor the company are presented intables.

PPG results 4Q and 2010, 20 Jan 2011,(PPG Industries Inc, One PPG Place,Pittsburgh, PA 15272, USA, tel: +1 412 4343131, website: http://www.ppg.com)

Jotun closes Egyptian plant

Jotun shut down all productionand other activities at its plant inIsmaila, Egypt, until further noticein January, and the 290employees were asked to stay athome and protect their familiesand property. No employees wereknown to have been hurt by orparticipated in the unrest at thetime.

Hegnar Online, 30 Jan 2011, (Website:http://www.hegnar.no) (in Norwegian)

Jotun plans for GCC growth in2011

Jotun Powder Coatings aims toattain a 15% growth in the GulfCooperation Council (GCC)nations during 2011. A subsidiaryof Norway-based Jotun Group,Jotun Powder Coatings UAE aimsto focus on product innovationand to formulate renewable andtechnologically advanced coatingsto satisfy the diverserequirements of different userindustries during its next strategicperiod.

PPCJ, Polymers, Paint, Colour Journal, Jan2011, 201 (4556), 8 (Website:http://www.polymerspaintcolourjournal.com/)

Oxea hikes neopentyl glycol outputin line with demand growth

Oxea intends to boost capacityfor neopentyl glycol (NPG) to45,000 tonnes/y at its site inOberhausen, Germany by mid-2011, in response to rising globaldemand for the material for usein eco-efficient powder coatingresins and lubricants. Oxea’sexpansion plan follows LGChem’s announcement that it will