Q2 sales up 16% at Kraton

ERJ staff report (LMH)

Houston, Texas - Kraton Performance Polymers said sales revenue in the second quarter of 2011 increased by 16 percent to $386 million (Euro 270 million).

The US company, which produces styrenic block copolymers and isoprene rubber, said net income increased 21 percent year-on-year to $47 million, up from $39 million.

Earnings (adjusted EBITDA) for three months ended 30 June 2011 were $74 million, which was 19 percent of its sales revenue, Kraton said in its 2 Aug quarterly report.

"During the quarter we made notable progress in advancing several of the strategic initiatives that will support future growth for the company,” said Kevin Fogarty, Kraton's CEO.

He added, “These initiatives include successful completion of the isoprene rubber line conversion project at our site in Belpre, Ohio, and completion of the isoprene rubber latex capacity expansion at our Paulinia, Brazil site.”

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Press release from Kraton Performance Polymers