Calumet Specialty Products Swings to Profit

Calumet Specialty Products Partners is headquartered in Indianapolis. (photo courtesy of Calumet)

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Indianapolis-based Calumet Specialty Products Partners is reporting third quarter net income of $51 million, compared to a $56 million net loss during the same period a year ago. The independent producer of petroleum-based specialty products says this was its best quarter in over a year, as it emerges from the pandemic.

Chief Executive Officer Steve Mawer says the company has been able to satisfy market demand, despite supply chain disruptions.

“Demand across both our specialty businesses has been excellent. Supply chain issues were focused on our Performance Brands segment where we have received 38 Force Majeure notices this year from suppliers,” said Mawer.

He says unscheduled maintenance at one of its major suppliers has exacerbated the shortage of lubricant additives.

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