Omnova expects lower raw materials costs to cushion Q2 losses

Beachwood, Ohio—Omnova Solutions Inc. has recently posted a pre-tax loss of $3.9 million (€3.4 million) on second quarter net sales up 9.6% year-on-year to $221.3 million – compared to a profit of $10.4 million in the same three months of last year

The Beachwood-based company’s polymer and chemicals portfolio encompasses additives, stabilisers and modifiers for polymer products, including tire cord, reinforced rubber components and moulded rubber goods.

Omnova linked its earnings decline to an impairment cost of about $12.9 million related to a soon-to-be-rationalised coated-fabrics unit in…

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