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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Gulf Resources, Inc. (MM) | NASDAQ:GFRE | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.22 | 0 | 00:00:00 |
www.bedfordreport.com/2011-04-GFRE
www.bedfordreport.com/2011-04-SOA
With demand and pricing improving for tires, Solutia recently announced that it has sold off some of its businesses to focus on their rubber chemical enterprise. Earlier this month the company said that it sold its "Santoweb" and "Vocol" businesses to Rhein Chemie, a wholly-owned subsidiary of LANXESS AG.
Greta Senn, president and general manager of Solutia's Technical Specialties division, says Solutia is focused on its "Flexsys" portfolio. Flexsys products assist in the control process of manufacturing rubber while improving its durability, flexibility and appearance.
The Bedford Report releases regular market updates on the Specialty Chemicals industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.
Bromine prices are on the upswing this year. China is currently the world's third largest bromine producer after the United States and Israel. The production of bromine is presently over 150,000 metric tons/year in China, but bromine demand continues to outpace supply.
China's largest bromine producer, Gulf Resources, says it expects year-on-year profit growth of 24.8 percent to 28.7 percent as a result of surging bromine prices. Gulf Resources CEO Xiaobin Liu said that Gulf Resources reported bromine market prices of approximately $4,500 per tonne, and says he believes that the price of bromine is expected to stabilize at a high level, and could reach a historic high this year.
Last month Gulf Resources reported fiscal fourth quarter revenue of $37.1 million, a 26 percent year-on-year improvement. Revenue from the company's bromine and crude salt segment was $26.5 million, or 71.5 percent of total revenue.
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