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OCI reports huge fall in quarterly profits

4:30 AM MDT | October 17, 2012 | Deepti Ramesh

OCI (Seoul), formerly DC Chemical, recorded a 93.8% fall in third-quarter net profits compared with the year-ago period, to won10.6 billion ($9.6 million). Sales decreased 29%, to won757.6 billion, and operating profits decreased 86.9%, to won33 billion. The company’s polysilicon business recorded third-quarter sales of won179.3 billion and an operating loss of won31.8 billion, compared with sales of won483 billion and operating profits of won179 billion in the year-ago period. OCI announced in July 2012 that it has suspended construction on the...

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