Petrochemical | 31 July 2020
Reliance O2C Petrochemicals revenue down 33%
Decline due to lower price realizations with disruptions in local and regional markets amid Covid-19 outbreak.
Decline due to lower price realizations with disruptions in local and regional markets amid Covid-19 outbreak.
As a Tier 2 member, the company will provide unique carbon fiber Non-Crimp Fabrics as well as Thermoset and Thermoplastic prepreg materials for diverse applications in these projects and in other NCC development programs.
The agreement enhances Firmenich's position in naturals and sustainability.
HQ to be shifted to Chattanooga, Tennessee from Dalton, Georgia.
Lower crude oil price and lower throughput key reasons for revenue decline.
The deal involves developing solutions aimed at optimizing the management and recovery of all industrial waste produced on 20 sites located across France.
The decline in revenue was primarily due to fall in O2C revenues, led by sharp decline of 57.6% in average Brent crude price.
Company achieved Rs. 100 crore in 67 days whereas the next Rs. 100 crore was achieved only within 51 days in FY20-21.
The acquisition is slated for completion around early August.
The new business will produce a range of hospital grade hand gels, sanitiser sprays for hands and surfaces and sanitiser wipes, for retail sale, available for the home and to the public.
Acetyl and materials segment impacted the most during the quarter.
Adjusted earnings per share were $1.90, 4% above prior year, or 8% higher when excluding negative currency translation effects.
The partnership includes the supply of refinish products and color-matching solutions.
The collaboration with D&R Dispersions and Resins offers strategic manufacturing capabilities in Eastern Europe to meet the resin production needs for specialty applications.
The plant is expected to be completely operational by 2024 and is expected to help SABIC reach it's 2025 clean energy target.
The collaboration will jointly address technologies to propagate use of biofuels in variety of applications including usage in internal combustion engines (ICE) in the transportation sector.
Net income rose to Rs 3,246 crore in April-June quarter from Rs 2,800.28 crore in the same period a year ago.
Sales decline 14.55% to Rs 214.95 crore
Sales stood at EUR10.27 billion in the first half of the year, from EUR10.95 billion in the same period last year.
The company had announced capital expenditure of Rs. 436 crore for the project.
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