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Good afternoon and welcome to the ICIS lunchtime bulletin I am Matt Tudball and here are your
top stories for Thursday 1st November.
Croda International has announced it will sell its Italian business based in Cremona
as the company reported a 4.7% year on year rise in third-quarter operating profit from
continuing operations to £59.7m on higher sales, despite depressed market conditions.
The UK specialty chemicals company added that its continuing sales during the quarter were
up 0.5% year on year at 256.5 million pounds as turnover decline in Europe was offset by
growth in all other major regions.
In other news, Altana has completed a reorganisation of its top-level management, moving the heads
of four of its divisions to new roles within the group, the German specialty chemicals
company said on Thursday.
The reshuffle is intended to transfer knowledge and skills within the company, and all moves
are effective as of 1 November.
Turning to the markets, crude oil futures weakened on Thursday as concerns rise that
the havoc caused by storm Sandy will reduce fuel demand in the US east coast.
Those are your top stories for this lunchtime. Please join us again at the same time tomorrow
or catch up with breaking news at ICIS.com. For ICIS here in London I am Matt Tudball.