Saudi Arabia's Nama posts 40% rise in Q1 profit

21 April 2008 04:39  [Source: ICIS news]

DUBAI (ICIS news)--Saudi Arabia-based Nama Chemicals Co reported a nearly 40% year-on-year rise in its first quarter profits to Saudi riyal (SR)12.3m ($3.29m), the company said in a statement on Saturday.

The company’s sales rose around 38% to SR164.7m in the first quarter of 2008 due to an increase in its production capacity to meet the rising international demand for its products.

It had shut down its epoxy plant during the third quarter of 2007 to increase the unit’s capacity to 60,000 tonnes/year from  45,000 tonnes/year, the company added in the statement.

Nama produces epoxy resins, caustic soda (liquid & prills), chlorine, epichlorohydrin, calcium chloride and hydrochloric acid.

($1 =SR3.74)

By: Abdelghani Henni
65 6780 4359

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