Results of our 2016 business year in brief are as follows.
ChemPartners growth in chemical distribution was on slower pace which somehow was planned. Russian ruble revaluation in Russia and even more conservative policy for customers crediting resulted in almost same revenue in USD as in 2015.
At same time we saw very significant developments in our sales to such markets as animal feed, mining, oilfields and packaging. Overall customers base was increased for over 10% and average profitability was also improved. During 2016 ChemPartners had succeed to essentially decrease our average working capital interest rate due to bank sphere stabilization which allow us to optimistically look into 2017.
Unlike ChemPartners, all our environmental business packed in EcoTechnologies group had enjoyed significant growth in revenue and interest from the industry. New environmental legislation had brought Extended Producer Responsibility where EcoTechnologies is already industry leader capable to provide all the necessary services.
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