OSTCHEM Holding expects Crimea Titan 2.5-fold net profit increase in 2007

OSTCHEM Holding, comprising Ukraine’s leading chemical enterprises, expects CJSC Crimea Titan to report more than a two-fold increase in profits. In 2007 the company’s net profit is excepted to be in the region of UHR (Ukraining hryvnas) 34m (compared to UHR 14,3 mln in 2006).

In 2007 Crimea Titan significantly increased production and extended its range of products. On last year’s results, in response to the growing demand, the company stepped up the output of titanium dioxide to 88,500 tons; production of granulated aluminum sulphate was increased 25 percent (to 1,800 tons); of red iron oxide – by 26 percent (to 5,200 tons). Production of kilned iron sulphate was mastered, whereas formerly almost all of it went to waste. Production of sulphuric acid also grew 5 percent (to 560,000 tons).

Last years saw a 24.4 percent increase in sales. At that Crimea Titan managed to significantly step up mineral fertilizer sales on Ukraine’s domestic market (64 percent), as a result of which, even with the forecast growth of titanium dioxide export (92 percent), the overall share of export operations shrank to 71 percent. The plant’s remarkable showing found its reflection in the employees’ incomes. The average wage grew 28 percent during the year and topped the UHR 1650 figure.

Companies of OSTCHEM Holding are invariably paying much attention to environment conservation. In 2007 Crimea Titan allocated UHR 18.7m for air purification and improving safety in handling waste. The plant boasts an effective system of environmental control, which is confirmed by an international ISO 14 000 certificate. In February 2008 a diagnostic inspection was completed of the company’s labor safety system to confirm its compliance with OHSAS 18001:1999 Occupational health and safety management systems.