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Alpek profits falls 52%

7:11 AM MST | February 15, 2013

Alpek (San Pedro Garza García, Mexico) reported a 52% drop in net consolidated profit during the fourth quarter, to $518 million. Consolidated fourth-quarter revenue totaled $1.67 billion, down 3%. Polyester and related products sales volumes rose 2%, to 744,000 m.t., while average polyester prices were down 5.9% year-on-year. “2012 polyester prices were impacted by lower oil and feedstock prices, as well as the North American purified terephthalic acid price formula adjustment implemented at the beginning of the year. However, it is important to note that...

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