USA Arch Chemicals reported a drop in sales during the first quarter of 2009 of close to US$53 million. The company indicated that during this first quarter it reached US$293.7 million in sales, compared to US$347.1 million registered in the same period of 2008."Despite changing market conditions, we are pleased with the results in the first quarter, which exceeded our expectations," said the firm's CEO, Michael E. Campbell.
Sales in these segments amounted to US$78.2 million, with operating losses of US$6.4 million, compared to US$115.4 million and US$0.3 million, achieved respectively in 2008. "In the timber protection business, the decrease in volumes for the residential sectors was due to the recession in the construction market and was partially offset by the increase in global prices. In industrial coatings, the drop was due to poor economic conditions in Europe," the company said in a statement.
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