MOSCOW (MRC) -- Ufaorgsintez, part of Bashneft, began resuming production at polyethylene (PE) and polypropylene (PP) capacities after a scheduled turnaround, according to ICIS-MRC Price report.
The company's customers said Ufaorgsintez started the resumption process at its low density polyethylene (LDPE) and PP production capacities yesterday, on 14 June, after almost a two-week shutdown for maintenance. The first shipments are already planned for today.
As MRC informed previously, Ufaorgsintez shut down for maintenance its PP and some of LDPE production capacities on 2 June. The plant's total LDPE and PP capacity is 88,400 and 100,000 tonnes per year, respectively.
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