Rohm and Haas Chairman and CEO Raj Gupta affirmed that the company is on track to achieve year 2000 targets of a $300 million lower operating rate, overall sales growth of 4-5 percent and accelerating profitability expressed as EBITDA – earnings before interest, taxes, depreciation and amortization. EBITDA was 22.7 percent in 1999.
Speaking with investors in New York, Gupta said that the integration of several acquisitions made during the past year have further strengthened the company's technologies and reach into world markets. "We have a focused portfolio of businesses that are strong, growing and healthy."
Brad Bell, Chief Financial Officer, said that Rohm and Haas was doing well with other key metrics as well – free cash flow, which was $352 million for 1999 and earnings per share which has grown at a compound annual rate of nearly 24 percent during the past six years.
Rohm and Haas is a specialty chemical company technology found in paints and coatings, adhesives and sealants, household products, personal computers and electronic components, and construction materials.
Edited by Anndrea Vorobej