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Alpek, the petrochemicals arm of Mexican conglomerate Alfa (BMV: ALFA), posted revenues of US$1.25bn in the fourth quarter 2010, up 19% year-on-year due to higher sales volumes and average selling prices, the company said in its Q4 report.
For the full year, revenues increased 22% to US$4.83bn from US$3.97bn.
“Basic raw material prices increased at an unexpected rate as result of an improvement in world economic activity. In particular, an outstanding demand for polyester in China and other Asian markets, due to a shortage of cotton, has tightened the world supply of PTA,” the report read.
“Also, operating problems in paraxylene operations in some regions of the world put additional pricing pressure along the polyester chain. Petrochemical prices are expected to continue on an upward movement during the following months.”
Ebidta for Q4 was US$126mn, up 26% year-on-year, and US$488mn in 2010 compared to US$428mn the previous year.
Alpek had net debt at end-2010 of US$476mn versus almost US$1.11bn a year earlier.
Did you see the price action in Ford (F) Friday? I shouldn’t call it price action; instead, I should refer to what I saw as an act of total carnage. Seriously, down over 13%?
That’s what happened. Volume was, as one might expect, huge. The price of the automobile manufacturer settled at the end of day to a quote of $16.27. The 52-week low for the shares is $9.75 while the 52-week high is $18.97. The one-year chart shows a stock that has been doing very well. Investors want to know if this is a simple bump in the road on the way to further capital appreciation.
It’s a tough call. There are many people out there who wish they had taken a chance on Ford; one friend of mine in particular bemoans the fact that he almost bought in, but didn’t (just the way it goes, unfortunately — we’ve all been there). Now comes what could be a buying opportunity. Is it?
You have to understand that the market was reacting to a significant earnings miss, something that hasn’t happened to this business in a very long time.
Non-refundable airline tickets, forfeited hotel room deposits, cancellation fees on rental cars — for travelers, the spate of snowstorms this winter has been costly, and January’s not even over yet. But even as flight cancellations mount, travelers have more recourse than they may have thought.
As airlines cancel flights in anticipation of storms to avoid the costs of delays, travel delays is only going to get worse, experts say. Already in late December and early January, an estimated 16,000 flights were cancelled. In all of 2010, there were 25% more flights cancelled than in 2009, according to the Bureau of Transportation Statistics. These cancellations do more than snarl air traffic. They create a snowball effect for consumers who then may face tough hotel, rental car and cruise line cancellation policies, says Tom Parsons, CEO of BestFares.com.
As a result, many travelers have turned to travel insurance. Each time a major weather incident makes news, TravelInsuranceReview.net, which rates travel insurance policies, sees about a 15% to 20% jump in traffic.
Achieving Credibility by James Kouzes focuses on some of the key aspects of what it takes to run a successful career and business. It helps you to understand what characteristics that people admire and how you can – as a professional business leader – achieve the credibility you want and need to thrive successfully in your career.
This book talks about the how to establish trust within your team. Leaders, managers, and other people in positions of authority who are not recognized for who they are and what they do end up getting treated like a doormat by all their fellow employees. It’s not uncommon to run across a company who is completely out of order because the individuals who are in upper management are unable to gain the credibility from others that they need.
Too often, work places are filled with chaos and disorganization. The work ethic is poor among the employees, and the entire team is filled with lazy, unfocused workers who could care less about their job.
Mexico’s state oil company Pemex produced 13.2Mt of petrochemicals in 2010, up 10.3% from 12.0Mt the previous year, according to statistics on the company’s website.
In December alone, output rose 18.1% to 1.08Mt from 915,000t the year earlier.
Full year production of benzene jumped 49.4% to 118,000t, while toluene rose 35.3% to 188,000t, ethylene oxide 32.9% to 372,000t, vinyl chloride 20.6% to 187,000t, dichloroethane 18.1% to 306,000t and ammonia 13.8% to 899,000t.
Ethylbenzene output slid 26.7% to 77,000t over the year. More moderate falls in output were seen in propylene (10.9% to 384,000t), high-density polyethylene (7.18% to 181,000t), low-density polyethylene (7.07% to 460,000t) and ethylene (2.93% to 1.13Mt).
Pemex’s production of “other chemicals” totaled 8.89Mt, up 13.0% on 2009.
The company did not give reasons for the production changes.
Pemex’s petrochemicals arm is called PPQ.
For the complete production figures, go to this link