This quarter, our Specialty Engineered Materials, Performance Products & Solutions (PP&S) and Distribution segments led the way, as all three achieved year-over-year increases in operating income." Underlying organic sales growth, plus contributions from the company's recently acquired businesses, offset lower year-over-year selling prices in Distribution, PP&S, and Designed Structures and Solutions (DSS), due to lower hydro-carbon based raw material costs.

Softening demand conditions in the fourth quarter most heavily impacted the Performance Products and Solutions (PP&S) and Specialty Engineered Materials (SEM) segments. Specifically, end markets negatively impacting PP&S were building & construction and appliance.

Patterson added, "Performance Products & Solutions (PP&S) achieved another exceptional quarter, driven by continued mix improvement resulting in a new segment operating margin record of 12.3%.  Underlying organic sales growth plus the addition of Magenta's fiber colorant business and Kraton's TPE business was more than offset by lower year-over-year selling prices in Distribution, PP&S, and Designed Structures and Solutions (DSS), due to lower hydro-carbon based raw material costs.

Our Specialty Engineered Materials, Performance Products & Solutions (PP&S) and Distribution (POD) segments all delivered record operating income, helping us to overcome a number of macro-economic challenges and weaker performance in Designed Structures & Solutions (DSS)." These associates led to a near-immediate impact in POD and PP&S where sales cycles are the shortest within the company, and both segments reported record operating income for the full year 2016. 

which impacted Color, Additives and Inks (Color) and Specialty Engineered Materials (SEM), and a decline in construction related sales, which primarily impacted Performance Products and Solutions (PPS) in

Patterson said, "We've had a strong start to the year, driven by gains in Distribution and PP&S. 

PP

Taxes paid on gain on sale of PP&S divestiture

Three of our businesses have already reached their 2015 margin targets with DSS and PP&S having line of sight to getting there this year," added Mr.

They then set up 4 bins in production to sort our plastic scrap into bins of PE/PP, PS, Nylon, and High Temp materials.