22 February 2011 12:28 [Source: ICIS news]
Sales for the three months ending on 31 December 2010 increased 26% year on year to $795.4m, primarily due to higher sales prices for all of the group’s major products and higher sales volumes for polyvinyl chloride (PVC) resin and caustic soda, the company said.
"We achieved significant improvement in earnings in 2010 in spite of the slow recovery in the broader economy and continued weakness in the
Income from operations soared to $137.1m in the fourth quarter of 2010 compared with $23.0m in the same quarter the year before, as
Income from operations for Westlake's olefins segment increased to $154.5m in the fourth quarter of 2010, from $55.1m in the same period of 2009.
In addition, the group’s vinyls sales volumes and operating rates improved compared with the same quarter in 2009, largely as a result of robust export demand for PVC resin,
The company's vinyls segment reported a loss from operations of $12.4m in the fourth quarter of 2010, compared with a loss of $29.2m in the same period a year before.
“In the vinyls segment, PVC resin operating rates improved in 2010 due to increased exports driven largely by more competitive ethylene and energy cost positions in
For the full year ending on 31 December 2010,
($1 = €0.74)
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