Poland's PKN Orlen Q2 petchems, PVC, fertilizer sales fall

29 July 2010 09:00  [Source: ICIS news]

PRAGUE (ICIS news)--Poland's PKN Orlen recorded lower petrochemical, polyvinyl chloride (PVC) and fertilizer sales during the second quarter compared with the same period last year, the company said in a trading statement on Thursday.

Petrochemical sales fell 10% to 1.08m tonnes from 1.19m tonnes, although Orlen's model petrochemical margin increased 48% to €721/tonne ($936/tonne), it added.

Orlen largely attributed the petrochemical sales decline to planned maintenance shutdowns of installations in Plock.

An unspecified fall in the sales of PVC, produced by subsidiary Anwil, occurred during the second quarter due to lower demand and the late June breakdown of Anwil's chlorine plant that forced the declaration of a force majeure on PVC and caustic soda that could last up to five months, Orlen said.

Anwil had also been hit by a decrease in sales of its nitrogen fertilizers, partly caused by competition pressure, it added.

The scale of this decline would be detailed in the release of Orlen's second quarter results on 31 August, said Orlen.

Despite the setbacks, Orlen expected to record a second quarter net profit.

($1 = €0.77)

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By: Will Conroy
+44 20 8652 3214

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