Nalco deliver revenue and growth in 1st half of 2008 - paper struggling somewhat

Nalco benefit form the low dollar exchange rate to announce improvements to sales and profitability.

However, there is a similar story across the whole paper chemicals industry with Nalco Paper Services announcing, '.... organic revenue declined modestly, 1.7 percent, with weaker results in most regions and price activity lagging cost increases. Performance is expected to improve in the second-half behind growth in Asia. About 20 new Asia-based paper machines on which Nalco has been awarded business are expected to start production by year-end. Direct contribution in the quarter fell $7.6 million.'

These results come at a time when the Nalco management are looking at future options for the paper chemicals business (see earlier blog).