US Axiall Q2 net income jumps on chlorovinyls sales

31 July 2013 23:48  [Source: ICIS news]

HOUSTON (ICIS)--Axiall posted a sizeable year-on-year increase in Q2 net income, the integrated chemicals company said on Wednesday, mainly because of more-than-doubled sales in its chlorovinyls segment.

Net income for the quarter ended 30 June was $72.8m (€54.6m), up from $13.6m in the same period last year.

Axiall’s Q2 net sales rose to $1.27bn in 2013, compared to $868m in 2012, while operating costs and expenses rose to $1.15m in from $839m in Q2 2012.

Sales in the company’s chlorovinyls segment rose almost 136% to $801m in Q2 2013 from $340m in Q2 2012.

In other segments, Q2 sales for building products declined to $245m in 2013 from $252m in 2012, while Q2 sales in aromatics products fell to less than $227m this year from almost $276m last year.

“We have made significant progress integrating the organizations and building on our complementary assets while maintaining a steady focus on safety and execution,” said Paul Carrico, Axiall CEO. “We are on track to achieve our synergy targets of a $60m run rate by year end 2013 and $115m run rate by the end of 2014.”

($1 = €0.75)

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By: Tracy Dang
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