Kuibyshevazot's net profit increases 240% in 2011
SAMARA. Feb 1 (Interfax) - OJSC Kuibyshevazot posted 5.9 billion rules in net profit for 2011, up 240% form 2010, the company said on Wednesday.
Total production increased by 48% to 31.2 billion rubles in 2011.
"The positive result was driven by positive trends on world markets for key production and a substantial increase in total output," the enterprise said in a statement.
Production of ammonia increased by 24.7% to 649,000 tonnes, ammonium nitrate - 11% to 550,800 tonnes, carbamide - 18.9% to 349,600 tonnes, ammonia sulphate - 9.1% to 479,500 tonnes. In addition, caprolactam output increased by 10% to 192,000 tonnes, polylactam-6 - 25.5% to 141,900 tonnes, and technical and chord thread - 78.6% to 13,500 tonnes. Production of chord went down by 16.4% to 5,300 tonnes.
According to the statement, the enterprise posted its highest ever production results for ammonia, caprolactam, ammonium nitrate, carbamide, and ammonia sulphate last year.
A total of 2.7 billion rubles was put towards upgrading the enterprise in 2011.
Kuibyshevazot produces items from organic synthetics, base chemicals, and industrial gas. The enterprise is one of the leading producers of mineral fertilizers in Russia.