Warsaw – Sales in the polyurethane segment of Chiech, Pianki, were up 28% in the first nine months of 2017 compared with 2016, according to figures released by the company.
In the first nine months of 2017, sales were PLN 224m ($63m), up PLN 49m on the same period in 2016, the company said.
Chiech said that Pianki had increased sales in the sector but was struggling to pass on the full price rises of raw materials: there had been ‘an increase in prices of epoxy resins and PUR foams following the increase in prices of oil-based raw materials’, it said.
The company added that this had been offset by a 9% rise in oil prices in the first nine months of 2017, compared to three quarters of 2016 and, consequently, higher prices of raw materials for the organic industry [where Pianki reports].’ These were only ‘partially offset by an increase in prices of finished products,’ Chiech added.
Overall, Chiech had sales of PLN2.6bn in the first nine months of 2017, compared with PLN 2.5 bn in the first nine months of 2016.