01 November 2012 05:14 [Source: ICIS news]
TOKYO (ICIS)--Tosoh Corp’s net profit in the six months to September 2012 shrank by 97% year on year to yen (Y) 310m ($3.9m) as its largest vinyl chloride monomer (VCM) plant in Nanyo has remained shut since late last year, the Japanese producer said on Thursday.
The 550,000 tonnes/year No 2 VCM unit was severely damaged by an explosion that occurred on 13 November 2011 and was not able to resume operations since then.
The company’s net sales for April-September 2012 declined by 15% year on year to Y311.8bn, while operating profit plunged by 78% to Y4.82bn.
In the chlor-alkali segment, six-month net sales decreased by 21% to Y107.2bn, leading to an operating loss of Y5.07bn, a reversal of a Y100m profit made in the same period last year, according to Tosoh.
($1 = Y79.79)
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