Sales and net profit boom for OCI Materials


The Korean company, OCI Materials recently released optimistic Q3 figures for 2010. During the period between January and September 2010, the firm achieved a growth in both sales and net profit.
A closer inspection reveals that sales increased by 31.7% on the same period of the previous year to W173.401bn. Similarly net profit also exhibited growth at a rate of 31.2%, amounting to W45.531 bn. Also in ascent was operational profit which rose by 29.4% to W58.916bn.
The company was keen to highlight the growth of its speciality gases. Among which, nitrogen trifluoride (NF₃) excelled thanks mainly to its prevalence in conductors and LCDs in China, Korea, Taiwan and Japan.
This niche within OCI’s portfolio is set to continue its success well into 2011, particularly as expansion finishes on the company’s Yeongju plant shortly. Upon completion the project is expected to augment annual production by 1,000 tons and eventually 5,500 tons.
A spokesperson for the firm spoke of the unpredictable nature of demand, saying, “Even after completion of our expansion, we still will not be able to look into what lies ahead to see if the sense of tightness in demand will dissipate.”

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