China’s Sichuan Chemical posts $32m deficit in 2010

01 April 2011 04:45  [Source: ICIS news]

SHANGHAI (ICIS)--China’s Sichuan Chemical reported on Friday a loss of CNY209.7m ($32.0m) due to a shortage and rising prices of feedstock natural gas.

The company posted a net profit of CNY82.8m in 2009, according to a filing to the Shenzhen Stock Exchange.

Sichuan Chemical had to lower its production output significantly in 2010 because of a shortage in feedstock natural gas, it said.

In addition, the rising prices of natural gas also increased the cost pressure on the company, it added.

Sichuan Chemical’s operating revenue reached CNY2.0bn in 2010, down 10.91% year on year, it added.

The company said it produced 337,000 tonnes of synthetic ammonia, 482,100 tonnes of urea and 70,300 tonnes of melamine in 2010.

($1 = CNY6.55)

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By: Amanda Zhang
+65 67804359

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