WAYNE, N.J. (March 8)—International Specialty Holdings Inc.'s synthetic elastomers business—the former Ameripol Synpol Corp.—was $7.4 million in the black on an operating basis last year, reversing a loss from fiscal 2003.
Sales for the unit hit $170.1 million, up significantly over the production-curtailed year 2003, when ISP bought certain rubber assets of Ameripol Synpol during the firm's Chapter 11 bankruptcy protection process. Ameripol Synpol generated sales of $110 million and $187 million in 2002 and 2001, its last two full years of business.
ISP Elastomers' improved operations helped International Specialty Holdings improve its profit situation as well, as net income increased 52.5 percent to $60.7 million and sales rose 29.9 percent to $1.19 billion.
The company did not release a 2005 forecast.