FAIRLAWN, Ohio (Aug. 17)—Omnova Solutions Inc. reported Aug. 15 it expects its net income for the quarter ending Aug. 31 to approximately break even, compared to a net income of about $10.1 million in 1999´s third quarter. Raw material price increases, primarily in styrene, butadiene and polyvinyl chloride, are expected to negatively affect operating profits by about $15 million, the company said. In response to the shortfall, Omnova has reduced the salaried workforce in its Decorative Products business by 8 percent and continued a hiring freeze at its Fairlawn headquarters and Performance Chemicals business. The company will release its quarterly results Sept. 13.
Omnova Solutions expects "break even" third-quarter results
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