18 January 2012 21:50 [Source: ICIS news]
MEXICO CITY (ICIS)--Mexico-based vinyls producer Mexichem expects fourth-quarter sales to reach $790m (€624m), up 4% year on year, despite what it called the unfavourable macroeconomic climate in the final months of 2011, the company said on Wednesday.
Sales should be $3.85bn for all of 2011, and they could reach $4.36bn in 2012, Mexichem said. This growth should be mostly organic, since Mexichem does not expect to make further acquisitions in 2012.
The company said the increase in fourth-quarter sales reflected the integration of Polycyd, Plasticos Rex and AlphaGary and higher prices for its chief product lines, polyvinyl chloride (PVC) and fluorite-based refrigerants.
Fourth-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) are projected to have risen 8% to $155m.
The company also announced a target EBITDA for 2012 of $1bn, up from an estimated $830m in 2011.
($1 = €0.79)
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