March 12, 2008 – Plastics maker Spartech Corp. said Monday its first quarter was hurt in part by increases in administrative expenses and the increased cost of resins along with a sales decline. The Clayton-based company is forming a plan to improve its performance by reducing costs, Myles Odaniell, Spartech's president and chief executive, said in a statement.
Odaniell said the plan will include streamlining manufacturing costs and a reassessment of underperforming business units or plants. Sales were hurt by reduced demand from the transportation, recreation and leisure products and residential construction markets, while demand from commercial construction customers improved.
Abstracted from St. Louis Post - Dispatch
