LG Chem Reports Fall in Quarterly Profits

LG Chem reported a 14.6% fall in net profits for the third quarter of 2011 compared with the year-ago period, to won511.6 billion ($450 million). Sales increased 17.2%, to won5.88 trillion. The company’s petrochemicals business had a “satisfactory performance” during the quarter, despite a slump in global economy, LG Chem says. Sales of polyolefins increased and profits increased for acrylates and plasticizers during the period, the company says. In the IT and electronic materials business, profitability of optical materials was maintained. And...

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