First quarter earnings plung at Rockwood's TiO2 pigments

摘要

Earnings from Rockwood's titanium dioxide pigments business plunged nearly 89% in the first three months of 2013 due to lower selling prices and higher raw materials costs related to slag and ilmenite. First quarter earnings from TiO2, taken before interest, tax, depreciation and amortisation (EBITDA), fell 88.6% to $8.6 million even as sales rose 21% for the quarter to $273 million. Rockwood chief executive Seifi Ghasemi said he believes the business will "trough during the second quarter before turning profitable in the latter half of 2013".