Toronto-Chemtrade Logistics Income Fund reported a drop in net income for the third quarter ending Sept. 30, 2010, saying this reflects the fact that its Beaumont, Texas, plant was offline for the entire quarter due to a fire that occurred in May 2010 (GM May 31, p. 14). Chemtrade President and CEO Mark Davis told analysts Nov. 11 the Beaumont plant went into startup mode in the third week of October and achieved full production rates by Nov. 11. Another factor was reduced supply of product from the Vale Sudbury smelter, which did not return to full production until mid-August. Third-quarter net earnings were C$10.4 million on sales of $142.6 million, down from the year-ago earnings of $10.4 million and sales of $127 million. Nine-month net income was $23.1 million on sales of $406.8 million, compared to the year-ago $34.4 million on sales of $413.4 million. Davis said the demand for Chemtrade products continues to strengthen as the year progresses. “Demand levels for sulfuric acid, our major product by volumes, have improved throughout 2010 and prices for most of our products continue to have upward momentum.”
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