Saudi Arabia's National Industrialisation Co (Tasnee) said on Tuesday its fourth-quarter net profit dropped 46.5 percent on lower petrochemicals prices. It also attributed the drop to lower prices of titanium dioxide and lower sales and prices of acrylic acid. Tasnee, is one of the world's largest producers of titanium dioxide through its subsidiary Cristal. The company made 160.7 million Saudi riyals ($42.8 million) in the three months to December 31, down from 300.1 million riyals in the same period a year ago, Tasnee said in a statement.
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