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May 25, 2010
Perstorp reports strong first quarter of 2010
The first quarter of 2010 is characterized by strong volume growth and cost containment for specialty chemicals Group Perstorp, resulting in net sales rising 21% to SEK 3,607 million and operating profit amounting to SEK 430 m.
The operating profit before depreciation and amortization recovered dramatically and amounted to SEK 430 (118) m. The increase in operating profit was primarily driven by improved demand, especially for Perstorp’s oxo products, specialty polyols and caprolactones. This trend is expected to continue and Perstorp´s current capacity increase for caprolactones will meet the market’s growing need for this product when the new plant goes into operation in 2011. Perstorp’s business for formalin technology and catalysts, Formox, sold its first “turbo charger” plant, significantly cutting energy consumption.
“We have had a very positive start to 2010 with a strong demand for virtually all products in our portfolio and the outlook for the rest of the year remains positive. There are many interesting and exciting activities underway that will further strengthen our position. For example, we will shortly be launching the world’s first renewable Penta – VoxtarTM – which is excellent proof that we’re living the vision of contributing to a better and more sustainable society through innovative chemical solutions”, says Martin Lundin, President and CEO of Perstorp.
The Perstorp Interim report 1 January - 31 March 2010 can be downloaded >> and ordered >> in printed copies.
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