Russia's Kuibyshevazot raises '08 net profit 30% to €52.7m

30 January 2009 12:07  [Source: ICIS news]

MOSCOW (ICIS news)--Russian caprolactam and fertilizer producer Kuibyshevazot has raised its 2008 profit and sales, according to a statement released by the company on Friday.

Kuibyshevazot said it posted a 2008 net profit of roubles (Rb) 2.4bn (€52.7m, $68.4m) in 2008, up 30% up year on year.

Kuibyshevazot raised its 2008 sales to Rb19.2bn, up 11.6% year on year, according to the company.

Kuibyshevazot also said it produced 77,600 tonnes of polyamide-6 last year, which was up 6.5% year on year.

Based in the Samara region of central Russia, Kuibyshevazot said it planned to finish construction on the fourth 50,000 tonne/year stage of the polyamide-6 unit in 2009, taking the plant's total polyamide-6 capacity to 150,000 tonnes/year.

In November 2008, Kuibyshevazot said it cut caprolactam production by 50% due to falling demand.

($1 = Rb35.08/€1 = Rb45.49)

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By: Sergei Blagov
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