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Chemicals company Elementis said performance in the third quarter improved from the second, with volumes down about 13% on the prior year as COVID-19 continued to weigh on growth.
Pricing remained steady across all businesses except for Chromium, which was materially down on the prior year period, as lower demand at key customers and sustained industry pricing pressure, particularly in the rest of the world, dented performance.
In the quarter, the company launched 3 new products, delivered $9m of new business and remained on track for delivery of $15m in year cost savings, Elementis said.
'For 2021, our new business and innovation pipelines are encouraging, and we have made good progress underpinning $10m of supply chain cost efficiencies. Our new AP Actives plant in India remains on track for mid-2021 start up,' it added.