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[Alpha Biz=(Chicago) Reporter Kim Jisun] Kolon Industries announced on the 31st that it recorded sales of 5.612 trillion won and operating profit of 157.4 billion won as consolidated results last year. Sales and operating profit fell 5.7% and 35.1%, respectively, year-on-year.
"The main reason was uncertain external conditions, such as a continued deficit in the film business due to weak demand for tire cords due to the global economic downturn and a slump in the front industry," the company explained.
Kolon Industries expects to improve its performance thanks to the full-scale operation of the Aramid expansion this year, the completion of the expansion of Aramid pulp and petroleum balance (PMR), and the expansion of its global business in the fashion sector.
Meanwhile, Kolon Industries will guide detailed performance by business sector through a performance briefing session next month.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
