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OCI Reports Huge Fall in Quarterly Profits

3:49 AM MDT | July 25, 2012 | Deepti Ramesh

OCI (Seoul), formerly DC Chemical, recorded a 76% fall in net profits for the second quarter, ended June 30, compared with the year-ago period, to won70.7 billion ($61.5 million). Sales decreased 26%, to won866.9 billion. Operating profits decreased 74%, to won94 billion. The company's polysilicon business recorded second-quarter sales of won246.9 billion and operating profits of won12.6 billion, compared with sales of won571.8 billion and operating profits of won283.6 billion in the year-ago period. The oversupply of polysilicon in the market continued in...

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