MOSCOW (MRC) -- Ufaorgsintez, part of Bashneft, shut down some low density polyethylene (LDPE) production capacities for a scheduled turnaround, according to ICIS-MRC Price report.
The company's customers said Ufaorgsintez had stopped operations at some of its LDPE production capacities for maintenance by 2 June. The remaining polyethylene (PE) capacities are operating at the reduced capacity utilisation. The maintenance works will be carried out during 12 days. The plant's total LDPE capacity is 88,400 tonnes per year.
The company also planned to shut down its polypropylene (PP) production for a turnaround yesterday. The plant's annual production capacity is 100,000 tonnes.
As MRC reported earlier, Ufaorgsintez's Q1 net profit rose to Rb1.91 billion, up by 67% year on year. Revenues amounted to Rb7.58 billion, compared to Rb7.62 billion a year earlier. The cost of sales decreased by 8.4% to Rb5.51 billion. As a result, the company's gross profit increased by 29% to Rb2.07 billion, operating profit rose by 31% to Rb1.55 billion, profit before taxes (EBIDTA) reached Rb2.44 billion.
According MRC's ScanPlast report, Ufaorgsintez produced 33,700 tonnes of LDPE and 40,900 tonnes of PP in the first four months of 2016, compared to 33,100 tonnes and 42,000 tonnes in the same period of 2015.
Ufaorgsintez PAO was founded in 1956 and is based in Ufa, Russia. Ufaorgsintez manufactures organic synthesis products in Russia and Europe. Its products include ethylene, propylene, ethanol, cumol, ethyl benzol, phenol, acetone, copolymer rubber, polyolefines, poly vinyl chloride and polyethylene items, thinners, and dilutants.
MRC