Gulf Resources and Solutia Tighten Product Portfolios to Boost Profits
April 28 2011 - 7:16AM
Marketwired
Companies in the Specialty Chemicals Industry provide a wide range
of products for use in a variety of applications. After the
recession battered many companies in the industry, several firms
are focusing on reducing their product portfolio and improving
their financials. The Bedford Report examines the outlook for
companies in the Specialty Chemicals industry and provides research
reports on Gulf Resources, Inc. (NASDAQ: GFRE) and Solutia, Inc.
(NYSE: SOA). Access to the full company reports can be found at:
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.
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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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