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Markets :: Basic Chemicals :: Petrochemicals :: Propylene

Alpek swings to a net loss in fourth quarter

5:28 AM MST | February 14, 2014 | Francinia Protti-Alvarez

Alpek, a subsidiary of Alfa (San Pedro Garza García, Mexico), posted net losses of $1 million for the last quarter of 2013, according to the group's results released this week. Alpek made a profit of $40 million in the last quarter of 2012. The fourth-quarter 2013 loss is in part attributable to a $17-million increase in operating expenses as a result of asset-impairment charges, mainly associated with the closure of the Cape Fear site in North Carolina in June 2013. Quarterly income taxes were also higher due to the initial effect of an increase in the...

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