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People & Business :: Earnings/Finance
Keyuan Petrochemicals’ loss narrows
7:54 AM MST | November 21, 2012 | Deepti Ramesh
Keyuan Petrochemicals (Ningbo, China) reported a net loss of $6.9 million in the third quarter, ended 30 September 2012, compared with a net loss of $11 million in the year-ago quarter. Third-quarter sales decreased 0.2%, to $164.3 million. Sales decreased because of lower sales volume, which resulted from the downturn in the market and lower production caused by a suspension of production at its facilities for 15 days for routine inspection and maintenance. During the third quarter, Keyuan Petrochemicals sold 155,249 m.t. of petrochemical...
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