28 October 2004 06:27 [Source: ICIS news]
SINGAPORE (CNI)--Aromatics Thailand Co’s (ATC) third-quarter sales rose 4.5% in volume terms from a year ago, thanks to a successful first-quarter capacity debottlenecking, the company said on Thursday.
In a statement to the Stock Exchange of Thailand expanding on its earlier announcement of its financial results, ATC said it sold at 650 592 tonne of benzene and paraxylene (PX) in the third quarter, up from 621 997 tonne in the same period of 2003.
In the first quarter of this year, ATC expanded its benzene capacity to around 470 000 tonne/year from 330 000 tonne/year and raised its PX output to around 500 000 tonne/year from 395 000 tonne/year. It also halted its toluene production in favour of converting all of its 140 000 tonne/year toluene capacity to produce more PX, orthoxylene (OX) and benzene.
ATC's third-quarter net profits more than doubled year-on-year to an all-time high of Baht3.56bn ($86m/Euro68m) from Baht1.43bn in the third quarter of 2003. Sales during the just-ended quarter totalled Baht16.02bn, almost double the Baht8.75bn recorded a year earlier.
ATC said that benzene prices were up 144% from a year ago at an average of $1058/tonne, paraxylene prices were up 35% at $765/tonne. Average feedstock prices were up 58% at $396/tonne. Product-to-feed margins more than doubled to $200/tonne from $95/tonne a year go.
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