Total Petrochemicals reports 72% profit increase in Q2

(plastemart) -- Europe's third-biggest oil company Total SA, has reported a 72% increase in Q2 profit after projects started last year were ramped up and on significant improvements across all of its businesses. It's chemicals business has grown four times in Q2 adjusted net operating profit to ┬274 mln. The growth is driven by a 25% rise in sales and an improvement in margins as the markets saw an overall improvement. Cost-cutting measures have also contributed to the segment's strong performance. Sales from Total's base chemicals segment grew by 29% to ┬2.79 bln, while sales of specialty chemicals increased by 17% to ┬1.78 mln.

MRC

(prw) -- Eastman is yet another chemicals giant that has posted analyst-beating second quarter results. Amongst its results the company revealed a large jump in sales of coatings and speciality plastics.

Eastman reported quarterly net income of $148m, compared with net income of $65m for the same quarter last year. Revenue rose to $1.7bn from $1.3bn.

MRC

(prw) -- French chemicals group Rhodia has reported a strong second quarter. The company doubled its recurring Ebitda to ┬226m compared with ┬114m in Q2 2009. This was achieved in the face of rising raw material and energy costs. Net profit was ┬43m.

French specialty chemicals company is investing in sites in Halifax in the UK and University Park in the US, as part of Rhodia growth strategy for specialty surfactants.

MRC

(prw) -- Bayer has reported solid Q2 revenues but recorded a 1.3% slip in earnings due to one-off charges for legal proceedings and a write-down on a cancer drug.

Revenues rose 14.6% to ┬9.2bn, up from ┬8bn, due largely to growth in its consumer health and high-tech materials divisions. But total earnings of ┬525m in the April to June period were down from ┬532m for the same period the previous year as a result of the one-off hits.

MRCMRC Reference

Bayer is an international chemical and pharmaceutical concern. Founded in 1863.

The share in the Russian market in 2008:
PS - 0.7% (ABS - 7.2%).

Annual sales growth in Russia over the last 5 years:
PS - (-10%).

Polymers processing technologies:
injection molding.

(Europlastic) -- On May 17, 2010, EUROPLASTIC Ltd., being the only parent company of EUROPLASTIC-UA Ltd., decided to pass 100% constitutor rights in EUROPLASTIC-UA Ltd. to VETAR Agrarian-Industrial Company Ltd.

The obligatory condition of the passing of the constitutor rights is the change of EUROPLASTIC-UA Ltd. brand name.

In case of the effort of using the mentioned brand name, the company will be brought to account for unlawful usage of the brand name.

MRC