Lotte Fine Chemical announced on October 29 that it recorded sales of 525.3 billion won and an operating profit of 22 billion won for the third quarter of this year. While sales increased by 18.5% compared to the same period last year, operating profit fell by 20.3%.
The increase in sales was attributed to rising international ammonia prices and expanded sales of TMAC, a semiconductor material. However, the decline in operating profit was due to rising raw material costs for key chlorine-based products, particularly ECH, used in epoxy resins.
Lotte Fine Chemical is also continuing its investments to strengthen its specialty business. In July, the company announced a 13 billion won investment to expand TMAC production facilities in response to growing demand in the semiconductor market. This expansion aims to increase its current TMAC production capacity, which is the largest in the world, by approximately 16% to 64,000 tons annually by 2028. The newly operational cellulose production facility for food and pharmaceutical use has also been steadily increasing its output.
The company is expanding its clean ammonia business to secure future growth drivers. Lotte Fine Chemical aims to become an 'Asian clean ammonia hub' by increasing re-export volumes using ammonia transport vessels acquired in 2024. On October 8, it signed a contract to supply green ammonia for power generation to the Pohang distributed ammonia power plant, a joint venture between Ammon Energy (GS Engineering & Construction and Amogee).
Additionally, following the commercialization of the world's first green ammonia bunkering in April, the company successfully completed bunkering for the world's largest ammonia-powered vessel on October 25, further expanding its related business.
CEO Jeong Seung-won stated, "In the third quarter, sales increased thanks to the expanded sales of TMAC, a semiconductor material. We will continue to enhance our specialty business and secure future growth drivers through investments in TMAC expansion and clean ammonia business growth."
Meanwhile, Lotte Fine Chemical completed the expansion of its food and pharmaceutical cellulose production line last year, increasing its annual production capacity to 18,000 tons.
* This article has been translated by AI.
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