AgroPages-Chemtura agrochem sales up 15% in Q1 2014-Agricultural news

Chemtura AgroSolutions’ net sales rose by 14.8% to $101 million in the first quarter ended Mar 31st 2014. Net sales increased $13 million resulting from $13 million in higher sales volume and $4 million in higher selling prices, partly offset by $4 million of unfavorable foreign currency translation.

Operating income increased by 69.2% to $22 million. The increase in operating income reflected favorable sales volume and product mix changes of $11 million and higher selling prices of $4 million partly offset by higher SGA&R(general and administrative cost and R&D cost ) of $2 million, unfavorable foreign currency translation of $2 million and an increase in other costs of $2 million.

The company continued to experience strong market demand for pest control products for the soybean market in Latin America and miticides in North America. Increases in SGA&R are primarily attributable to additional selling, marketing and bad debt reserves associated with the higher sales volume.

In April, Chemtura has cut a definitive deal to divest its agrochemicals business Chemtura AgroSolutions to Florida-based specialty chemicals maker Platform Specialty Products Corporation for roughly $1 billion.

Chemtura AgroSolutions’ sales result ($ million)
Q1ended Mar. 31	Q1 2014	Q1 2013	% change
Net sales	101	88	14.8
Operating income	22	13	69.2

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Chemtura agrochem sales up 15% in Q1 2014

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