IHS Chemical Week

Regions :: China

Keyuan Petrochemicals swings to profit

8:43 AM MST | November 19, 2013 | Deepti Ramesh

Keyuan Petrochemicals (Ningbo, China) reports a net profit of $2.8 million for the third quarter, ended 30 September, compared with a net loss of $6.9 million in the year-ago quarter. Third-quarter sales decreased 8.5%, to $150.3 million, mainly because of lower sales volume as a result of a 40-day production shutdown for maintenance in the quarter ended 30 June, after which facilities and equipment need a short period of time to reach their optimum levels, Keyuan says. The petrochemical segment accounts for 86% of the company's total revenues. In the...

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