CLEVELAND – OM Group’s Specialty Chemical unit, which includes the former Electrochemicals, reported third-quarter net sales of $120.6 million, up 6%.
Operating profit for the segment was $24.7 million (20.5% of sales).

The chemical company’s overall third-quarter net sales were $415.1 million, up 40% year-over-year. Sales were aided by the company’s Aug. 2 acquisition of VAC Holding. Excluding the acquisition, net sales grew 4%, as higher volumes in battery materials, semiconductors, ceramics, chemical and defense offset lower price in Advanced Materials.

The company’s third-quarter net loss of $68.3 million includes special items totaling $108.5 million, primarily related to acquisitions and real estate transactions. Special items during the period included $93.5 million in charges of cost of goods sold; $11.2 million in fees related to the acquisition, and a $9.7 million gain on the sale of land at the Manchester, England, manufacturing facility. Excluding special items, gross profit in the third quarter was 26.6% of sales, compared with 25.4% in the 2010 period.

The Engineered Materials segment net sales were $260.2 million, up 75%. Excluding special items, operating profit was $38.8 million (14.9% of sales).