OREANDA-NEWS. January 28, 2010. СJSC Crimea TITAN has gone through complex activity analysis for its operation in November, December and the whole year.

Production plan in November was exceeded for all products including titanium dioxide – by 3%, with double-figures for ammophos. СJSC Crimea TITAN net profit amounted to about 4,4 mln. UAH.

Production results in December proved positive as well – titanium dioxide production amounted to 9 thsn. and 158 t. For the accounting period the enterprise cleared 4,5 mln. UAH.

The second half of 2009 saw 54 thsn. t. of titanium dioxide produced which exceeds main product production by a third compared to the same period in 2008.

The titanium dioxide production features the following monthly results: July – 8 thsn. and 902 t, August – 9 thsn. and 144 t, September – 8 thsn. and 753 t, October – 9 thsn. and 310 t, November – 8 thsn. and. 956 t, December – 9 thsn. and 158 t.

In 2009 titanium dioxide production totaled to 86,5 thsn. t which is by 20 thsn. t less than expected. Underproduce is due to economic crisis and gas supply shortages in January, April and May of 2009 which resulted in the plant suspending production for more than 30 days total.

Currently the biggest danger for CJSC Crimea TITAN stability lies in the state chronic non-returning of export VAT which amounted to 130 mln. UAH as of December, 1st. This being said, the state refuses to make any kind of the cross-cancellation of debts. There is also instability with the affiliate plants – Irschansky GOK and Volnogorsky GGMK as СJSC Crimea TITAN has to prove in a jurisdictional dispute the legality of its rights to rent them.