L R AS Published on Saturday 13 March 2021 - n° 354 - Categories:company results
OIC blames Chinese tariffs
While China is short of silicon, its tariff policy has condemned OCI's production lines in South Korea to a standstill. The company has had to write down its assets to the tune of KRW 750 billion
($663m) creating a net loss of KRW161m ($142m) in the last quarter of 2020
OCI says silicon production in Malaysia is increasing
Its manufacturing facility in Korea is kept up and running. OCI will target silicon production for semiconductors, which does not require the same degree of material purity. This should boost production
OCI's base chemicals business accounted for 40% of consolidated sales, compared to 16% for energy solutions. The fourth quarter loss increased the company's net debt by KRW 135 billion. Its debt-to-equity ratio rose from 75% to 86%.
PV Magazine of 11 March 2021