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Functional Chemicals

Revenues were down, mainly due to an adverse currency impact. Some recovery in volumes is visible together with initial signs of stabilization in ethylene amines. Overall market conditions remained challenging in Europe for the construction market and general manufacturing.

During the quarter, plans were announced to phase out the production of organic peroxides at the Deventer site, Netherlands, and consolidate this at other facilities. Meanwhile, our new Performance Additives plant in Ningbo, China, started commercial production, which will substantially enhance our regional position.

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