Good chemistry

Zakłady Chemiczne Permedia earned over zł.2 million in the third quarter of 2006 and enjoyed sales revenues of zł.13.4 million.

The figures represented a year-on-year increase of 48 percent and 28 percent respectively. The successful third quarter helped propel Permedia's net profit to zł.6.5 million in the first nine months of this year. By comparison, in the whole of last year the company achieved a net profit of zł.6.2 million.

The company's president, Tadeusz Bogusław, credits the growing demand from abroad for Permedia's results. The Lublin-based company specializes in producing inorganic pigments used in the construction and furniture industries, as well as in manufacturing compounds of nickel, cadmium and cobalt.

"The demand from Eastern Europe is growing, particularly from Russia and Ukraine, where nickel is used to produce car batteries," Bogusław told Puls Biznesu. The fact that nickel prices have jumped by 30 percent in the last year also helped boost the results.

Just last week the company signed a three-year contract with the Ukrainian company Dona to sell inorganic pigments.

The value of the contract was reported at EUR 800,000 (zł.3.07 million). Bogusław added that the company has also received orders from India and South Korea.

The company's results have led the president to set a target of zł.8 million in net profit for the whole year, which would be a 25-percent growth in comparison to last year. As far as predictions for 2007 go, the president was optimistic, but played his cards close to his chest.

"We plan a further improvement in profits," Bogusław said.