UPDATE 1-Mexico's Mexichem sees Q3 EBITDA, sales down
MEXICO CITY Oct 11 (Reuters) - Mexican chemicals maker Mexichem expects third-quarter earnings before interest, taxes, depreciation and amortization (EBITDA) to fall 24 percent from a year earlier, and sales to drop 4 percent, the company said in a filing on Friday.
Mexichem said it sees third-quarter EBITDA reaching 3.08 billion pesos ($238 million) and sales at about 17 billion pesos ($1.3 billion).
The company, which also makes plastic pipes, said falling prices for cooling gases derived from fluoride led to the expected drop in EBITDA and sales.
"The price level of cooling gases is lower than it was in 2012 due to increased Chinese participation in the market," the filing said.
Mexichem's shares were down 2.74 percent to trade at 54.74 pesos following the announcement.
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