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Indorama reports fall in profits

12:56 AM MDT | August 9, 2013 | Deepti Ramesh

Indorama Ventures (Bangkok) reports a 53.3% fall in net profits for the second quarter of 2013, compared with the year-ago quarter, to $7 million. Second-quarter sales increased 9%, to $1.9 billion. Core Ebitda decreased 4%, compared with the second quarter of 2012, to $144 million. Net profits and core Ebitda were affected by an inventory loss of $38 million as well as lower output at the company’s flagship glycol facility in the United States, which was undergoing a planned turnaround, Indorama says. “We have been seeing signs that the trough period...

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