Perstorp, Sweden -- Speciality chemical group Perstorp has reported sales up 21 percent to SEK 3607 ($458 million) for the quarter 1 Jan 2010 -- 31 March 2010 (Q1), compared to the same period last year.
Q1 operating profit was up to SEK 430 million from SEK 118 million in 2009, with overall volumes rising 30 percent, the polyol, caprolactones and isocyanate producer said 25 May.
"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," Perstorp ceo, Martin Lundin, said in the statement.
Perstorp said the increase in operating profit was primarily driven by improved demand, especially for its oxo products, speciality polyols and caprolactones. The company said in April that it was speeding up efforts to double its capacity for Capa caprolactones at its site in Warrington, UK, to meet growing demand.
Geographically, the company reported a recovery in demand in Asia, South America and the Middle East.
Investment in Asia, Perstorp said, continues at full pace. "Export volumes improved in the first quarter and our ambition of boosting production of HDI (hexamethylene diisocyanate) derivatives in Asia is expected to be further cemented in the second half of the year," the statement said.
The Swedish company is also presenting its polyurethane portfolio at PU China 2010 in Shenzen, China, from 26 - 28 May 2010, including its range of caprolactones and isocyanates for polyurethanes and cross-linkers.
"Our investment in a doubled capacity for caprolactones has continued throughout the global economic recession," Perstorp vice president of Caprolactones, Marten Olausson, said in a 26 May statement. "We have a strong belief in the future of the Capa product range and are committed to supporting and developing the caprolactones market. Our Capa caprolactones complement our portfolio of special polyols perfectly and give our customers an edge in spearheading the development of new products and applications," he added.
The capacity increase is expected to be fully on stream in 2011, Perstorp said.
Capa polycaprolactones are speciality polyester polyols typically used as the soft segment component in high performance polyurethane CASE (coatings, adhesives, sealants and elastomers) applications, such as PU dispersions for wood and leather coatings, cast elastomers, thermoplastic polyurethanes, and protective coatings, solvent, water-based and 2K systems for chemical protection for steel and flooring applications.
Besides the range of Capa products, Perstorp will present its Tolonate aliphatic isocyanates for light-stable end products and Scuranate TDI (toluene diisocyanate) monomers for higher performance and consistent end properties. Speciality chain-extenders for improving transparency in cast elastomers and cross-linkers to boost hardness in low-density foams will also be on show, the statement added. (RD)
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