Client News Release
Input Costs Pressure Gushan's Margins (at Forbes.com) and Penford Reports Fourth Quarter and Fiscal Year 2008 Results (Business Wire)
City of Industry, CA --(www.FinancialNewsUSA.com)-- 11/14/2008 - Specialty Chemicals industry news provided by Financial News USA (OTC: FNWU). Chinese biodiesel company Gushan Environmental Energy has warned it may have to delay more projects or explore alternative raw materials unless profit margins for biodiesel products improve. Shares of Gushan Environmental Energy (nyse: GU - news - people ) listed on the New York Stock Exchange lost 53 cents, or 18.5%, to close Wednesday's session at $2.34. Thecompany reported a fall in third-quarter profits but said sales rose 82.9% largely because average biodiesel selling prices were 40.3% higher than the prior year, though they've been falling more recently. "Despite a challenging economic environment due to the global financial crisis and volatile oil prices, Gushan continued to deliver solid revenue growth," said Chairman Jianqiu Yu, expressing confidence in the company's position and China's biodiesel market despite economic uncertainty in the near-term. [Read the full article]
CENTENNIAL, Colo.--(BUSINESS WIRE)--Penford Corporation (Nasdaq: PENX), a global leader in renewable, natural-based ingredient systems for food and industrial applications, today reported that consolidated sales for the fiscal year ended August 31, 2008 were $345.6 million compared with $362.4 million a year ago. For the year, strong nine month results in the Company's Industrial Ingredients business and record annual revenues in the North American Food Ingredients and Australian business segments were overshadowed by suspended production at the Company's Industrial Ingredients facility in Cedar Rapids, Iowa, caused by record flooding during June 2008. [Read the full article]
TAI'AN CITY, Shandong, China, Nov. 13 /Xinhua-PRNewswire-FirstCall/ --
ShengdaTech Inc. ("ShengdaTech" or "the Company") (Nasdaq: SDTH), a leading
manufacturer of nano precipitated calcium carbonate ("NPCC") and a major
manufacturer of coal-based chemical products in Shandong Province, PRC, today
announced that it has engaged KPMG as its new independent registered public
accounting firm, effective November 11, 2008. KPMG replaces Hansen, Barnett &
Maxwell, P.C. ("Hansen"), which was dismissed on November 11, 2008. The decision to change the independent registered public accounting firm was recommended, authorized, and approved by the Company's Audit Committee and Board of Directors. ShengdaTech reports that there are no disagreements with Hansen, Barnett & Maxwell, P.C. [Read the full article]
NEW YORK & SHANDONG PROVINCE, China--(BUSINESS WIRE)--Gulf Resources, Inc. [Read the full article]
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