Kraton makes a net loss for the year

ERJ staff report (DS)

Houston, Texas - Kraton sold 62 kt of its styrenic block copolymer products in the 12 months to December 2011. The company also announced financial results for the period.

Sales revenues increased 6 percent year-on-year to $304 million. Net loss was $21 million in the fourth quarter 2011, compared to net income of $10 million in the fourth quarter 2010

"Although 2011 sales volumes were essentially flat with the prior year, reflecting the impact of customer destocking and competitive price dynamics in certain markets, we experienced volume growth in our more differentiated Cariflex™ and HSBC products.  Furthermore, we were able to defend unit margins through continued implementation of our Price Right strategy as butadiene prices rose throughout much of the year, reaching record levels in the third quarter," said Kevin M. Fogarty, Kraton's President and Chief Executive Officer.

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Press release from Kraton