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MOSCOW (MRC) -- Kumho Petro Chemical
Co. has reported its third-quarter net income of 146.2 billion won
(USD130.5 million), up 207.3 percent from a year earlier, according to YONHAP News Agency.
The company said in
a regulatory filing that it posted 213.8 billion won in operating profit for the
quarter, compared with 68.4 billion won a year ago. Revenue fell 2.3 percent to
1.18 trillion won.
The operating profit was 12.2 percent higher than the
average estimate, according to the survey by Yonhap Infomax, the financial data
firm of Yonhap News Agency. The estimate of net profit was not
available.
As MRC reported
earlier, in H1 2016, Kumho P&B Chemicals (KPB) completed its phenol,
acetone and cumene capacity expansion. KPB is one of the largest producers of
benzene derivatives such as phenol, bisphenol-A (BPA), acetone and cumene in
South Korea.
Before the expansion, the company operated two
phenol/acetone units in Yeosu that were able to produce 380,000 mt/year of
phenol 450,000 mt/year of BPA, 235,000 mt/year of acetone and 430,000 mt/year of
cumene. With the completion of the capacity expansion, the company had added
300,000 mt/year of phenol, 470,000 mt/year of cumene and 185,000 mt/year of
acetone by June 2016.
Phenol is the main feedstock component for the
production of bisphenol A (BPA), which, in its turn, is used to produce
polycarbonate (PC).
According to MRC's ScanPlast
report, Russia's estimated consumption of PC granules (excluding
imports and exports to/from Belarus) rose in the first three quarters of 2020 by
32% year on year to 75,600 tonnes (57,200 tonnes a year
earlier).
KPB is an offshore joint venture created by the joint
investment of South Korea’s Kumho Petrochemical and Japan’s Nippon Steel
Chemical Company in 1976. |
