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Strong Selling Prices Lift LG Chem’s Chemical Profits

9:28 AM MDT | October 16, 2007 | Kerri Walsh

LG Chem’s petrochemicals business reported third-quarter operating profit up 172%, to 170.9 billion won ($187 million), on sales up 6%, to 1,743 billion won. Strong polyolefin prices and decreased depreciation expenses drove earnings, LG says. Firm global demand for polyvinyl chloride led to increased selling prices, the company says. LG’s petrochemicals subsidiary reported net income down 1%, to 67 billion won, on sales up 3%, to 659.6 billion...

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