OM Group reports results for third quarter 2011

November 16, 2011

November 16, 2011

OM Group, with headquarters in Cleveland, Ohio, USA, and manufacturing facilities in the Americas, Europe, Asia and Africa, has announced financial results for the third quarter ended September 30, 2011.

Net sales in the third quarter were $415.1 million, an increase of 40% compared with the third quarter of 2010. The most significant driver of the increase was the acquisition of VAC Holding on August 2, 2011. Excluding this acquisition, net sales grew 4% as higher volumes in battery materials, semiconductors, ceramics, chemical and defence offset lower price in Advanced Materials.

“Strong organic volume growth in Engineered Materials, favourable pricing in Specialty Chemicals, plus the significant sales contribution from our Magnetic Technologies acquisition all contributed to the strong top-line growth we achieved during the most recent quarter,” stated Joseph Scaminace, Chairman and Chief Executive Officer. “Adjusted for special items, income from continuing operations surged 66% compared with last year, even as we faced increasing challenges from cobalt supply chain fundamentals, further testimony to the efficacy of our diversification efforts,” he added.

Engineered Materials

As a result of the acquisition of VAC Holding on August 2, 2011, the Company’s segment formerly known as Advanced Materials was re-named Engineered Materials. The Engineered Materials segment includes the company’s existing Advanced Materials business and Magnetic Technologies, which consists of VAC Holding.

Net sales were $260.2 million, up 75%, due primarily to $106.6 million from Magnetic Technologies for two months since the acquisition

Advanced Materials product sales volumes rose 7%, primarily due to growth in battery materials and ceramics; other volume increased 35% due to higher copper contained in the mix of raw material feed

Specialty Chemicals

Net sales were $120.6 million, up 6%. The company stated that demand was mixed in electronic technologies as semiconductor volumes improved but printed circuit board and memory disk were lower; Advanced Organics volumes grew 3%.

Battery Technologies

Net sales were $34.7 million, down 3%. Improved volumes in defence were offset by lower aerospace volumes


“As we near the end of 2011 and begin to establish plans for 2012, we remain optimistic regarding the long-term growth prospects of the markets we serve, while mindful of the near-term macroeconomic challenges we face,” stated Scaminace.

“We will continue to aggressively invest in organic growth opportunities as well as strategic and tactical acquisition opportunities, particularly in sectors aligned with growth trends such as clean, affordable energy, proliferation of portable power, evolution of electronic devices, and need for sustainable products and processes. We are committed to creating shareholder value by utilizing our strong, flexible balance sheet to both expand our position within existing markets as well as enter strategic adjacent markets,” he concluded.  


Edited by: Paul Whittaker, Editor, [email protected]   

News | Articles | Market reviews | Search directory | Subscribe to e-newsletter

November 16, 2011

In the latest issue of PM Review…

Download PDF

Extensive Powder Metallurgy industry news coverage, and the following exclusive deep-dive articles and reports:

  • Phoenix Sintered Metals: A story of transformation, growth and community from America’s PM heartland
  • World PM2024 Yokohama: The stage is set for the PM industry to find a path to sustainable growth
  • The state of Europe’s hard magnets industry and the challenge of optimising the mass production of Nd2Fe14B permanent magnets

The latest news from the world of metal powders, delivered to your inbox

Don't miss any new issue of PM Review, and get the latest industry news. Sign up to our weekly newsletter.

Sign up

Join our community

Discover our magazine archive…

The free-to-access PM Review magazine archive offers unparalleled insight into the world of Powder Metallurgy from a commercial and technological perspective through:

  • Reports on visits to leading PM part manufacturers, metal powder manufacturers and industry suppliers
  • Articles on technology and application trends
  • Information on materials developments
  • Reviews of key technical presentations from the international conference circuit
  • International industry news

All past issues are available to download as free PDFs or view in your browser.


Browse the archive


Looking for PM production equipment, metal powders, R&D support and more?

Discover suppliers of these and more in our
advertisers’ index and buyer’s guide, available in the back of PM Review magazine.

  • Powders & materials
  • Powder process, classification & analysis
  • PM products
  • Atomisers & powder production technology
  • Compaction presses, tooling & ancillaries
  • Sintering equipment & ancillaries
  • Post-processing
  • Consulting & toll sintering
View online
Share via
Copy link