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Regions :: China

Keyuan Petrochemicals swings to profit

7:02 AM MDT | May 23, 2014 | Deepti Ramesh

Keyuan Petrochemicals (Ningbo, China) reports a net profit of $4.63 million for the fiscal year, ended 31 December 2013, compared with a net loss of $5.85 million in 2012. Full-year sales in 2013 decreased 13.9% however, to $646.5 million, as a result of a 41-day production shutdown for maintenance, Keyuan says. “I am pleased to report positive net income for 2013. Our 2013 financial results benefited from solid customer demand, our realignment of product profiles, and the general stabilization of the petrochemical industry in China,” says Chunfeng...

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