SK Global Chemical Reports Fall in Profits and Sales

SK Global Chemical, the petrochemical business of SK Innovation (Seoul), formerly SK Energy, recorded a 25% fall in operating profits for the first quarter ended March 31, 2012, compared with the year-ago period, to won181.9 billion ($160.4 million). Sales decreased 11.5%, to won3.44 trillion. SK Energy spun off its petrochemical, refining, and lubricants businesses into separate, wholly owned subsidiaries on January 1, 2011. The company’s overall petrochemical product sales volumes decreased to 2.16 million m.t. in the first quarter of 2012 from 2.82...

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