Growth in the most important markets of Asia Audited

The division performed well in the most important markets of Asia, such as China and India, which recorded growth of 15% and 10%, respectively. Robust growth of 8.7% was also achieved in Latin America. In North America, sales dropped due to the economic downturn that already began in the third quarter. Laboratory Products recorded a slight nominal decline in sales compared with the previous year. The Pigments business, which accounted for around one-fifth of the division’s total revenues, was the first to feel the effects of the economic crisis. The automotive coatings business was particularly impacted by declining production in the automotive industry. By contrast, the Life Science Solutions businesses, which are less dependent on economic cycles and accounted for around one-third of the division’s total revenues, achieved an increase in sales.