Tokyo – Sales at Japanese MDI producer Tosoh grew by 16% to JPY3917 bn ($3,454 bn) in the first half of 2017, driven in part by higher isocyanate prices.
The company recorded an operating income of JPY 545 bn in the first half of 2017, itself up 32% on the prior year period.
Tosoh said that prices of monomeric MDI had increased from about $1,704/tonne in the first half of 2016 to about $2,652/tonne in the first half of 2017, a rise of $948/tonne. Polymeric MDI prices had increased from $1,228 to $2,177/ tonne in the same period.
Sales in Tosoh’s urethane business grew from JPY 489 bn in the first half of 2016 to JPY 651 bn in the first half of 2017. The firm is predicting annual urethane sales of JPY 1.32bn for the full year
Overall, the company’s chlor-alkali businesssegment, which includes olefins, polyolefins and cement, had sales of JPY 1,560 bn in the first half of 2017, and sales of JPY 1,226 bn in the first half of 2016.
Operating income in the chlor-alkali business segment was JPY 249 bn in the first half of 2017, compared with JPY 134 bn in the equivalent 2016 half.
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