Kraton Polymers — a leading maker of styrenic block copolymers — posted an 8 percent sales gain in its first quarter as a public company.
Houston-based Kraton registered sales of almost $251 million in the fourth quarter of 2009, up 8 percent from the same quarter in 2008. The firm also reduced its fourth-quarter loss from almost $7 million in 2008 to less than $2 million in 2009.
For full-year 2009, Kraton posted a loss of $290,000 on sales of $968 million. In 2008, the firm had shown a $28 million profit on sales of about $1.2 billion.
Fourth-quarter sales growth was linked to better results in Kraton's emerging businesses, advanced materials and adhesives, sealants and coatings end uses, President and CEO Kevin Fogarty said in a March 3 news release.
“Given the operating leverage momentum we created for the company in the latter part of 2009 … we remain optimistic about the impact even modest economic recovery will have on our business results in 2010,” he added.
Kraton's SBCs are used in products ranging from soft-touch handles to disposable diapers to asphalt. The firm employs about 800 at five plants worldwide, with its main plant located in Belpre, Ohio.
Kraton's per-share stock price debuted at $13.50 on Dec. 17. It approached $15 in mid-January and was near $14 in late trading March 4.
Originally a unit of Shell Chemical Co., Kraton had been owned since 2003 by financial firms J.P. Morgan Partners LLC and TPG Capital LP.
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