US-headquartered TiO2 pigment producer Kronos Worldwide Inc. was unable to compensate for unfavourable economic conditions by raising prices, its quarterly earnings statement revealed.
Although the company’s selling prices were higher compared with the corresponding period the previous year, segment profit fell to $114.2m down from $146.6m for Q2 – a result of lower sales volumes and higher production costs.
Despite a 24% increase in selling price the profit decline was hit by lower demand...