07 June 2012 12:32 [Source: ICIS news]
TOKYO (ICIS)--Maruzen Petrochemical posted a 35% decline in its full-year net profit to yen (Y) 1.94bn from Y2.98bn in the previous year partly because it was forced to shut its methyl ethyl ketone (MEK) plant for a year following the 11 March 2011 earthquake in ?xml:namespace>
The producer shut its 170,000 tonne/year MEK plant at
Operating profit for the full year to 31 March 2012 fell 67% year on year to Y1.84bn ($23.2m) from Y5.58bn, while net sales increased 1.8% to Y383.4bn from Y376.7bn.
Maruzen’s production of all of its primary chemicals decreased during the full year compared with the previous year, according to the producer.
The company produced a total of 678,700 tonnes of ethylene in fiscal 2011 ended 31 March 2012, a 3.4% decrease from the previous year, while it produced 577,200 tonnes of propylene in the same period, down 0.5% year on year, based on Maruzen’s official data.
Its production of MEK dropped 97% to 5,000 tonnes during the full year from the year before, the data showed.
($1 = Y79.18)
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