Shanghai 3F resumes TFE production on improved demand

02 April 2009 09:41  [Source: ICIS news]

SHANGHAI (ICIS news)--China’s fluorochemical producer Shanghai 3F New Materials Corp has resumed production at its 3,500 tonne/year tetrafluoroethylene (TFE) plant in Changshu after it was shut in November on poor market conditions, a company source said on Thursday.

"We have resumed TFE production from April as the market demand is better than before and the existing inventory is low," the source told ICIS news.

The plant, in eastern Jiangsu province, was shut down for a turnaround in mid-November due to decreasing demand amid the global economic downturn.

The firm, which is listed company at the Shanghai Stock Exchange, incurred a net loss of yuan (CNY) 69.62m ($10.2m) last year due to shrinking global demand in the fluorochemical market.

This was a significant drop from its net profit of CNY83.9m in 2007, the firm’s financial earning report said in mid-March.

($1=CNY6.83)

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By: Judith Wang
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