MOSCOW (MRC) -- Sekisui Specialty Chemicals is announcing that consolidated financial results forecast for the first
half of fiscal 2020 and full-year of fiscal 2020 (ending March 31, 2021), announced on July 30, 2020
have been revised as follows, said the company.
Consolidated earnings forecast for the first half of the current fiscal year is expected to exceed the forecast
announced on July 30, 2020, as we have promoted a reduction in fixed costs in each segment that was
greater than planned, and as demand for High Performance Plastics Company in the mobility field and
building and infrastructure materials field has been recovering more than expected.
The consolidated earnings forecast for the full year is as stated above, as the demand trend remains
uncertain due to the impact of COVID-19.
As MRC informed earlier, Sekisui Specialty Chemicals announced today that it will increase the price of Selvol Polyvinyl Alcohol, Selvol Ultiloc, Selvol Ultalux and Selvol Premiol up to USD150/mT globally. Sekisui Specialty Chemicals remains committed to meeting customers' needs with high quality products. The increase will take effect November 1, 2020, or as contracts and agreements allow. Customers should contact their local Sekisui sales representative for more details.
We remind that Russia's output of chemical products rose in September 2020 by 6.7% year on year. At the same time, production of basic chemicals increased by 6.1% year on year in the first nine months of 2020, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-September output. Last month's production of primary polymers decreased to 852,000 tonnes from 888,000 tonnes in August due to shutdowns in Tomsk, Ufa and Kazan. Overall output of polymers in primary form totalled 7,480,000 tonnes over the stated period, up by 16.4% year on year.
Sekisui Specialty Chemicals' primary product is Selvol, a line of high performance polyvinyl alcohol polymers and copolymers used in paper, adhesive, packaging, construction, personal care, and many other specialty formulations. The company also represents Durastream CPVC compounds and resins, Advancell expandable microspheres, and S-LEC BK polyvinyl acetal resins. Sekisui Specialty Chemicals is a subsidiary of the Sekisui Chemical Group, a multibillion dollar, global company that delivers a wide range of products and services to enrich people's lives. The company is comprised of core businesses and technologies in housing, social infrastructure, and chemical solutions.
MRC