Kumho Petrochemical posts 32% growth in rubber sales

Seoul – Kumho Petrochemical has posted a 32% year-on-year rise in its synthetic rubber sales at KRW2,068.1bn (€1.55 billion), the South Korean company announced 1 Feb.

Profitability, said Kumho Petrochemical, improved during the financial year 2017, as a result of “stable selling price in spite of weak butadiene price.”

Consolidated operating income rose 67.2% at KRW262.6bn, but the petrochemicals manufacturer did not provide a breakdown for the synthetic rubber business.

Production volume for synthetic rubber stood at just under 1.5 million tonnes, the company did note in its annual statement.

According to Kumho Petrochemical, 79% of the synthetic rubber produced by the company was exports, with the rest going to the domestic market.

South east Asia was the biggest target region accounting for the company’s 49% exports, followed by China and South West Asia.

Europe and America accounted for 8% of the exports each.