Overview
- Lotte Chemical reported a third-quarter net loss of 163.6 billion won, down from 513.8 billion won a year earlier.
- Operating losses narrowed to 132.6 billion won as sales fell 5.8% to 4.78 trillion won from 5.08 trillion won.
- The company sold its entire 75.01% stake in Lotte Chemical Pakistan to PTA Global Holdings for 98 billion won.
- PTA Global Holdings is an SPV formed by Pakistan-based AsiaPak Investments and UAE-based Montage Commodities FZCO.
- Lotte expects weak Q4 demand and says scheduled maintenance will weigh on high-end product sales, while it expands value-added lines and sells non-core assets.