Russia's Polyef posts another net loss in Q1

02 July 2008 10:59  [Source: ICIS news]

MOSCOW (ICIS news)--Russia's Polyef announced continued net losses of roubles 107m (€2.9m, $4.6m) on Rb1.15bn sales in the first quarter of 2008, the company said in a statement on Wednesday.

In 2007, Polyef's net losses amounted to Rb671m, down from net losses of  Rb1.31bn in 2006, the statement said. Last year, Polyef's sales reached Rb4.31bn, up 2.2 times on the year before, it said.

In March-May 2008, Polyef plant started production of bottle-grade PET at its two production facilities with a total capacity of 120,000 tonnes/year.

Polyef, based at Blagoveschensk in the Bashkortostan region of Central Russia, started terephthalic acid production in 2005, and now its has 230,000 tonnes/year PTA capacity.

($1 = Rb23.47/€1 = Rb37.06)

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By: Sergei Blagov
+44 20 8652 3214

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