PJSC “Metafrax” investments in the 1st quarter increased by 4 times

During the 1st quarter 2017, the finished production realization benefit of the company has reached 4 billion 853 million rubles, that is more than in the last year by 200 million rubles or by 4%. The export share in the turnover was 43.2% against 30.9% according to the 1st half 2016 results.

The company’s social package was 35 million rubles.

In the 1st half 2017, the actual methanol production volume remained at the last year level, making 280 thousand ton. The formaldehyde production has almost reached 90 thousand ton. The UFC production was 45 thousand ton. The pentaerythritol production volume increased by 379 thousand ton to 6.1 thousand ton. The micronized pentaerythritol output was 531 ton (+50 ton or +10% by the 1st half 2016). The urotropin production exceeded 8 thousand ton (+ 12% by the 1st quarter 2016). The micronized pentaerythritol and urotropin output increased by +2% and +42% respectively, making more than 330 thousand tons totally. The packaged polyamide production made 208 ton (+24).

The investment volume from January to March 2017 made 2 billion 105 million rubles (+1 billion 570 million rubles or exceeding the 2016 level by 4 times.

The company is concentrated on the 2nd revamping stage of methanol unit completion that will increase the methanol production capacity up to 1 million 230 thousand rubles per year. The company continues updating its railway park (56 new railway cisterns were purchased in the 1st quarter)

Armen Garslyan, PJSC “Metafrax” Board of Directors Chairman:
-Certainly, unstable methanol market conjuncture influences the company’s functioning. After sharp drop in the year-end 2016, the market started to grow in the year beginning. Besides, the negative currency difference has an impact.
Although, the company works with high capacities. The conjuncture doesn’t change our investment program, we have the obligation to all company’s group.