Chemical production was lower in all regions, with the largest year-ago declines in the West Coast, Ohio Valley and Midwest regions.
The extended contract will provide Celanese’s Nanjing facility with an ongoing and reliable supply of carbon monoxide for its 1,200 kiloton acetic acid plant.
Net profit for Q4FY20 was Rs. 32.4 crore as compared to Rs. 27.0 crore in Q4FY19.
The production capacity of the planned facility at Dahej is 105,000 TPA.
Company finalizing arrangements to hire a successor.
Total income dipped to Rs 1,510.96 crore in 2019-20 from Rs 1,591.87 crore in the previous year.
The expansion will add capacity for products including methyl ethyl ketone peroxides (MEKP) as well as dibenzyl peroxide (BPO) pastes and waxes.
The company expects its long term contract execution to be on track and it does not believe any significant impact of COVID-19 to those contracts.
Annual net profit grew by 13% to Rs 237.46 crore over the previous year.
The sales declined by 38.08% to Rs 5017.15 crore as against Rs 8102.90 crore in 2019.
The company's sales also declined 6.25% to Rs 1004.70 crore as against Rs 1071.73 crore in the corresponding previous year.
This facility is designed to reach 24k ton capacity per year to meet growing local demand for international standard quality Hydrogen Peroxide for the textile industry and other applications.
The company plans to invest 10 billion yen ($93 million) on the project with commercial operations to commence from January 2023.
The new technologies will be based on scalable renewable and circular raw materials that have been difficult to utilize so far, such as forestry or agricultural residues, municipal waste, algae, waste plastics and carbon dioxide.
Altura will supply 60,000dmt of spodumene annually to Ningbo Shanshan from 2022.
This move is expected to empower the company to produce enough sheets of meltblown nonwoven fabric for approximately 300 million face masks per year.
The move will support the fast-growing packaging industry in South China.
Stork will provide maintenance services and capital expenditure services including multidisciplinary piping and mechanical, electrical and instrumentation, and other specialty services.
Under the new agreement, DKSH will provide marketing and sales as well as distribution and logistics for Stepan’s specialty products for the emulsion polymerization, coatings and inks segments.
The closure does not have any adverse effect on operations of the company as the total contribution of these units in total margin of the company is negligible.
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