Weak local market hits EIL

31 August 1998 00:00  [Source: ICB]

Israel's Electrochemical Industries (EIL) suffered the effects of a sagging domestic market and sales fell 7% to $60m in the first half of 1998. However, the company turned last year's half-year loss of $1.2m into a profit of $100 000.

The completion of a debottlenecking programme meant that EIL obtained high production levels of intermediates and PVC. However, lower EDC, VCM and ethylene prices were not sufficient to offset falling PVC margins.

EIL's domestic sales dropped from $30m to $24m for the half. Meanwhile, export sales were up marginally to $36m. Part of the growth came from penetration of PVC into new markets in Spain and Turkey.

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly