Yule Catto sees consolidation of latex sector

ERJ staff report (DS)

London -- Yule Catto, the speciality chemicals company, has reported increased sales, increased profits and reduced debts for the six months ended 30 June, 2008.

In particular, the company noted that its nitrile latex business is growing strongly, with annual growth of around 12 percent, year-on-year. The company noted that its competitors are reationalising their plants, commenting on the closure of Dow Latex plants; the breakup of Dow reichhold and the merger of Dow and Rohm & Haas.

The company said its sales volume of latex had increased by 64 percent in the last six years, and expected further growth in the sector.

Yule Catto had managed to pass on its raw material costs, but noted the rapid increase in butadiene costs, from $750/tonne to $3000/tonne in S E Asia over a 12-month period. The company said it expected this to ease from late 2008 onwards.

Overall,t he company reported sales up to £312.3 million from £270.4 million for the six month period, while pre-tax profit increased to £18.3 million from £16.9 million.

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Press release from Yule Catto