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.
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