Before I turn the call over Ken, I want to give you a quick update on VAC, which we acquired in August of this year. I am pleased to report that the integration of VAC is essentially complete and the business is performing very well against plan. Even though we’ve only reported two months of this stub year, we’re strongly encouraged by what we are seeing in this business. VAC’s high quality products, blue chip customers and strong R&D efforts have provided major portfolio diversification for our company. We believe that VAC will meet or exceed our expectations in 2011 and also enter 2012 with significant momentum.
Adding to the strong VAC performance, we also benefited from strong contributions from our Engineered Materials, Battery Technologies, and Specialty Chemicals. For 2011, we are on trend to generate pro forma revenues approaching $2 billion, and operating profit could approach $250 million.
Now, we can’t ignore the fact that there is significant stress in the world economy, even from what we’re hearing this morning, and it’s difficult to forecast the future given all the volatility and uncertainty out there. However, I have to admit I really like how this company is positioned and I share the opinion of many industry experts who anticipate that our core markets will grow above GDP over the next three to five years. It’s clear to me we that have in place the basis for sustainable and profitable growth over the long-term.
At this time I’ll turn the call over to Ken.Read the rest of this transcript for free on seekingalpha.com
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