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Soda ash export pricing affects FMC Corp's Q2 results
30
Jul '13
FMC Corporation, one of the world’s leading specialty chemical companies, has released its second quarter results and vision 2015 outlook.
 
The highlights of the second quarter results of FMC Corporation show a dip in the minerals segment earnings owing to the increase in soda ash export pricing in Asia.
 
The 2013 outlook of the corporation explains that in the minerals segment, Lithium operational improvements were offset by the slow paced recovery of soda ash export pricing.
 
However, the corporation’s vision 2015 outlook believes the minerals segment could recover by the end of 2013 due to improved lithium operations and recovery in soda ash export pricing.
 
In the minerals segment, second quarter earnings were US$ 35.4 million incurring a fall of 21 percent compared to the same period in the previous year, primarily as a result of lower export pricing of soda ash and partially offset by the higher global soda ash volumes.
 
FMC registered sequential improvements in the export soda ash pricing of Asia in the second quarter, and anticipates consecutive improvements in each of the third as well as fourth quarters of 2013.  
 
FMC Corporation is a diversified chemical company serving agricultural, industrial, environmental, and consumer markets globally for more than a century with innovative solutions, applications and quality products.
 
Last month, FMC Wyoming Corporation, a subsidiary of FMC Corporation, announced its implementation of increasing the off-list soda ash prices by $15.00/short ton for all grades of soda ash. The prices were raised to recover the cost increases and to support the continued investment in the soda ash business of the Corporation.
 

Fibre2fashion News Desk - India


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