Titan Chemical posts 25% increase in revenues for Q2 : plans to raise PE production

29-Aug-08

Titan Chemicals Corp. Bhd. Has posted RM 3.7 billion in revenue and RM 206.7 million in profit after tax (PAT) for Q2 of this year as a result of the contribution of Butadiene, a new product, and increase in selling prices and sales volume of existing products. Revenue increased by 25% and Profit Before Tax rose 65%, as compared to the first three months of this year. The company increased Liquefied Petroleum Gas (LPG) utilization rate to 25% by the end of the quarter, as a strategic move of substituting naphtha with LPG, a cheaper feedstock alternative. Titan Chemicals has an advantage in switching to the most economical feedstock blends as our crackers are designed to process both naphtha and LPG. Its Indonesian operation, PT Titan Kimia Nusantara Tbk, has achieved a second consecutive quarter of record polyethylene production volume. Titan Chemical plans to raise PE production at this plant in 2008, as it expects the growth of Indonesian market to support the future expansion plans.