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Published on: 11/5/2008
Last Visited: 11/5/2008
"The third quarter improved considerably over what had been a disappointing second quarter," said Chief Executive Brendan Cummins, attributing the improvement to sales price increases, the high profitability of Ciba's coating business and a boost in the company's water and paper treatment results.
But, Cummins added, the economic slowdown in recent months led to a "sudden deterioration in demand" in a number of industries, particularly in Europe.
Results were better in the Americas, and sales growth was particularly strong in Asia - at least for now.
"Growth in Asia will start to slow over the coming months as the economies in the region begin to be affected by the global downturn," he said.