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Indorama Reports Fall in Second-Quarter Profits
8:42 AM MDT | August 15, 2012 | Deepti Ramesh
Indorama Ventures (Bangkok) reported a 50.6% fall in net profits for the second quarter ended, June 30, 2012, compared with the year-ago period, to $39 million. Second-quarter sales increased 2.9%, to $1.74 billion. "The last 12 months have witnessed extreme volatility that closely shadows what we experienced in the second half of 2008," says Indorama. "There was a considerable squeeze in inventory across the industry then, which led to a total collapse of commodity prices—and we have seen it happen again in the fourth quarter of 2011 and yet...
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