Zeon elastomers up despite continued logistics woes

Tokyo – Zeon Corp.’s elastomers division has seen double-digit growth both in sales and operating income in the third quarter of financial year 2021, ending March 2022.

The division posted a 13% year-on-year rise in operating profit to Yen5.1 billion (€394 million) for the three months to end of December, on 13.6% higher sales of Yen49 billion Zeon reported 31 Jan.
 
Selling prices went up in conjunction with the rising of raw material prices, said Zeon, but the rise was offset by decreased latex shipments. 

While synthetic rubber demand was steady, shipments were delayed, especially those to Europe and the US, due to the shortage of containers and ships.

As a result, sales fell 2.4% quarter on quarter, Zeon added.