Net profit of KuibyshevAzot for the first 9 months of 2020 decreased by 60% year-on-year to RUB 1.44 billion, according to the company's press release.
Sales of commercial products decreased by 15% year-on-year to RUB 34.6 billion. The weaker sales resulted from unfavorable price dynamics conditions on global markets and a significant reduction in demand for caprolactam and polyamide amid the coronavirus pandemic.
Production of caprolactam for 9 months of 2020 contracted by 10.2% year-on-year to 140.7 thousand tonnes, the output of polyamide-6 by 9.6% to 100.3 thousand tonnes, production of polyamide yarn by 19.3% to 3.1 thousand tonnes, and production of dipped cord fabric by 26.9% to 10.4 million running meters.
In September, the company started the manufacture of polyamide-6-based polymer-composite materials (compounds) at its STFG plant in Rudolstadt (Germany) operating as part of KuibyshevAzot Group with a production capacity of 12,000 tonnes per year, absorbing a total investment of more than EUR 3 million.
PJSC KuibyshevAzot is a Russian chemical producer based in Togliatti, Samara region. The company is the leading caprolactam producer in the CIS, the only producer of high-viscosity polyamide and high tenacity yarns.
