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On Thursday DuPont Canada Inc. reported second quarter earnings of $79.4 million. At 2% below last year’s record second quarter results, this represents the company’s second best quarterly result on record. Year-to-date net earnings stand at $132.9 million, versus last year at $144.7 million. In Specialty Fibres, second quarter sales of $59 million were 17% better than last year, led by an outstanding 61% growth in sales of Kevlar and Nomex aramid fibres. Earnings for the quarter reached $5.8 million, or 37%, over last year. The North American market for Kevlar aramid fibre was very robust – particularly for the production of mechanical rubber goods (such as hoses), ballistic goods and protective apparel. Shipments of Nomex aramid fibre were also strong as Canadian customers succeeded in capturing export business for protective fabrics. This segment is expected to continue to perform well, but at a somewhat slower rate of growth in the second half of the year.
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