The fourth-quarter earnings mark the sixth consecutive quarter of record sales and adjusted EBIT for the leader in specialty coatings, sealants, and building materials.
The new American Sealants Inc. (ASI) 30,000-square-foot plant, in Fort Wayne, Indiana, will expand ASI’s operations and create new jobs in the community.
Sales of de-aromatic solvents, widely used in adhesives, sealants, coatings, and inks, are expected to grow significantly by 2033, led by demand for sustainable solvents.
The materials group and solutions group both reported losses, yet with the implementation of cost-saving solutions, the company remains optimistic for the next quarter.
Financial performance for the quarter that resulted in a 32% decline in year-over-year adjusted EBITDA led to the decision to close its titanium dioxide manufacturing facility.