Profits fall at Rohm and Haas

packagingnews.co.uk: "Rohm and Haas, a supplier of chemicals to the packaging industry, has posted an 18% fall in gross profit to $523m (354m) for the fourth quarter of 2008.

The company's net sales for the period fell by 13% to $2bn.

Rohm and Haas reported a 24% fall in fourth-quarter sales in its packaging and building materials business to $344m. It blamed the decline on a drop in demand across the globe and unfavourable exchange rates, which it said were partially offset by the introduction of higher selling prices."