Ramnicu, Romania — Sales in Oltchim’s polyol segment grew 25% in the first nine months of 2017, by RON 29.8 m ($7.7 m) to RON 149 m compared, with RON 120 m in the same period in 2016.
The results were hit by scheduled maintenance in the third quarter. This saw the propylene oxide and polyether polyols units shut for 14 days. The summer holiday period in markets outside Romania, which account for 77% of the division’s business, also hit the numbers, Oltchim said.
However, Oltchim said it had been able to increase sales prices as they rose generally, and that it had increased production in the quarter.
Overall, the company’s sales rose in the first nine months of 2017 to reach RON 716 m, compared with RON 555 m in the first three quarters of 2016. Gross profit across the business rose from RON 22m in the first nine months of 2016 to RON 55 m in the first nine months of 2017.
The firm said that these were ‘the best results from the current business since the insolvency procedure in January-September 2017’.