24 Mar 2023 16:14

Uralkhimplast has year's inventory of imported feedstock, looking into alternatives

YEKATERINBURG. March 24 (Interfax) - Uralkhimplast (UHP, Sverdlovsk Region) currently has a year's supply of imported raw materials and is working on securing alternative supplies from Asian producers, the company said in financial reporting.

The plant partners almost exclusively with Russian suppliers and the share of imported raw materials is insignificant.

In general, in the current economic situation UHP sees minimal risks in the company's future prospects of the company with minimal risks, without presence of problematic buyers and suppliers.

Uralchimplast ships products mainly to Russian producers, as well as to buyers in Kazakhstan, Uzbekistan, and Kyrgyzstan. Uralchimplast does not ship products to EU countries and the United States, so there are no risks in the form of problem buyers (foreign companies)," the report reads.

As reported earlier, the company in 2022 increased its net profit by one third to 624.76 million rubles, while revenue rose only slightly - by 0.5% to 7.27 billion rubles.

Uralchimplast specializes in the production of synthetic resins and plastics, plasticizers, construction and specialty plastics, PVC compounds and compounds based on them, as well as consumer goods. It's production facilities are located in Nizhny Tagil (Sverdlovsk Region).