date:Feb 08, 2014
llion decline in adjusted operating income was attributable to South America.
North America fourth quarter 2013 sales declined 12 percent as a result of negative volume, unfavorable price/mix due to lower raw material costs, and currency headwinds. Volumes were soft as a result of general economic weakness, particularly in Mexico, and some inventory adjustments in the retail supply chain late in the quarter.
Operating income was down 14 percent from a record $108 million to $93 million primar