CUMI posts 83% drop in profits as global business suffers

• Autores: Laura Syrett
• Localización: Industrial Minerals, ISSN 0019-8544, Nº. 546, 2013
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • Quarterly sales for CUMI's electro-minerals segment, which produces sintered aluminium oxide and silicon carbide amongst its main product lines, fell 21% from Rs 1.68bn ($31.3m) y-o-y to Rs 1.3bn (24.2m).

    CUMI added that it was experiencing "deep" problems with its vertically integrated South African supplier, Foskor Zirconia, owing to recent volatility in prices for zircon sand which CUMI uses to make electro-minerals for the tile industry.

    Sales also fell for CUMI's abrasives and ceramics segments, dropping y-o-y by 4% from Rs 2.07bn ($38.5m) to Rs 1.98bn ($36.8m), and 2% from Rs 1.21bn ($221m) to Rs 1.19bn ($22m), respectively.