03 October 2010 13:53 [Source: ICIS news]
BUDAPEST (ICIS)--US-based flame retardants, catalysts, plastics-additives and fine chemicals producer Albemarle is optimistic about 2011 as fears of a double dip recession have subsided, a company official said on Sunday.
Speaking on the sidelines of the 44th European Petrochemical Association (EPCA) meeting, Albemarle vice president of global sales and service Matt Juneau noted the company’s strong second-quarter recovery earnings and said similar results were expected for the third quarter.
Albemarle posted second-quarter earnings of $82m (€59m), more than doubling the $38.5m it made in the year-earlier period as sales increased in all segments.
“As we look to next year people feel relatively good about the business,” Juneau said.
Brominated flame retardants are used in a wide range of applications including consumer electronics, housing and automobiles, he said. “That business has recovered quite nicely,” he said.
While the fourth quarter of Albemarle’s fiscal year may show some seasonal softness, the producer expects a “solid 2011”, Juneau said. “You won’t see another big jump but you will see solid performance.”
In addition to producing brominated flame retardants and other bromine-derived products, Albemarle produces catalysts for refineries and polyolefins plants, fine chemicals for the agriculture industry, antioxidants and curatives for polyurethanes, epoxies and polyureas.
($1 = €0.73)
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