Phillips Carbon Black profits up

Phillips Carbon Black has announced its net profit in the year ended in September had jumped 244 per cent on the back of a 10 per cent growth in sales. A spokesman for Phillips Carbon Black said significant growth in carbon black offtake was expected next year. “We have reached an agreement with a leading tyre manufacturer for export of 25,000 tonnes of carbon black.

We are negotiating with another tyre manufacturer for a similar deal,” he added. The company is raising the capacity of its Baroda plant from 18,000 tonnes at present, to 88,000 tonnes. The production capacity of its plant at Durgapur is being scaled up by 25,000 tonnes to 150,000 tonnes.