Indorama Reports Fall in Quarterly Profits, Citing Slowdown in Asia

Lohia: Extreme volatility in last year. Indorama Ventures (Bangkok) reported a 50.6% fall in net profits for the second quarter of 2012 compared with the year-ago period, to $39 million. Second-quarter sales increased 2.9%, to $1.74 billion. “The last 12 months have witnessed extreme volatility that closely shadows what we experienced in the second half of 2008,” says Aloke Lohia, CEO of Indorama. “There was a considerable squeeze in inventory across the industry then, which led to a total collapse of commodity prices—and we have seen it...

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