18 July 2012 17:31 [Source: ICIS news]
The company's 2012 second-quarter catalysts sales fell to $229m (€185m) - from $267m in the 2011 second quarter - largely because of weaker hydroprocessing catalyst (HPC) volumes and unfavourable currency impacts.
“All [three projects] are on track, within budget, and are expected to come online by year-end,” Kissam told analysts during
In 2013, Albermarle’s catalysts business should have a “step-out year”, he added.
Kissam noted that despite the year-on-year decline in catalysts sales, the segment's underlying profitability improved - with income margin rising to 29%, from 25% in the 2011 second quarter – because of lower input costs.
However, overall, Albermarle does not see an expansion in the global economy in the second half of the year – contrary its previous expectations, Kissam said.
As a result, Albermarle expects its businesses – catalysts, fine chemistry, and polymer solutions – to record full-year 2012 earnings flat or modestly higher than in 2011, he said.
Additional reporting by Bobbie Clark($1 = €0.81)
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