Rompetrol Petrochemicals records 2010 operating profit of $13.7m

16 February 2011 13:17  [Source: ICIS news]

PRAGUE (ICIS)--Rompetrol Petrochemicals swung to a 2010 operating profit of $13.7m (€10.1m), compared with a 2009 operating loss of $13.6m, on improved margins, the Romanian company said on Wednesday.

Turnover rose 11% year on year to $265.7m, the company added.

The quantity of processed raw materials fell 16% as work got underway on an $18m investment aimed at lifting the capacity of its high density polyethylene (HDPE) plant in Navodari, eastern Romania, by more than 70% to 100,000 tonnes/year, the company said.

Last year also saw the completion of the company's automated Command and Control Centre platform which allows for the integrated tracking of operations, Rompetrol Petrochemicals said.

The company also has a 60,000 tonne/year low density polyethylene (LDPE) plant at Navodari.

It is a subsidiary of Rompetrol Group, which itself is fully owned by Kazakhstan's KazMunaiGaz (KMG).

($1 = €0.74)

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By: Will Conroy
+44 20 8652 3214



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