Ciner Buoyed by International Sales

Ciner Resources LP of Atlanta, GA has reported a third quarter net income of US$26.9 million on net sales of US$117.3 million compared with US$21.6 million on revenue of US$109.8 million in the same period of 2014. The company produced 656,000 tons of soda ash in the quarter and sold 638,000 tons compared with 634,000 tons produced and 598,000 tons sold in the third quarter of 2014.

Ciner’’s domestic soda ash sales decreased by 4.6% to US$47.2 million in the quarter, reflecting a 2.3% decline in sales volumes to 208,500 tons and a 2.4% decrease in average sales price to US$226.36/ton. Ciner’’s third quarter international sales increased by 16.3% to US$70.1 million, as a result of a 4.2% increase in average sales price to US$163.49/ton and an 11.6% increase in international sales volume to 429,100 tons.

Ciner spent US$10.6 million on maintenance and expansion projects versus US$9.2 million in the third quarter of 2014.

Kirk Milling, Ciner’’s CEO, said, “”We are very excited to usher in a new era for the company as part of the Ciner Group along with our name change to Ciner Resources LP. We had another excellent quarter as greater sales and production volumes, combined with lower energy costs, drove adjusted EBITDA attributable to Ciner Resources for the quarter higher by 15.2% (to US$16.7 million). Our third quarter performance, coupled with our outlook for a strong fourth quarter, allowed us to increase our distribution for the fifth consecutive quarter as we continue executing on our distribution growth strategy.””

Solvay SA of Belgium reports third quarter sales for its Performance Chemicals segment of €806 million (US$872 million), an 8.5% increase from the third quarter of 2014. Soda ash and derivatives sales were 15% higher at €403 million (US$436.0 million). Volume sales were flat as growth in Europe and the seaborne market, as well as higher sodium bicarbonate sales, offset lower soda ash sales in North America. The company is ramping up a new 100,000 tons/year bicarbonate plant in Thailand.

Volume 29 issue 22

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