NEW YORK and SHANDONG, China, June 23 /PRNewswire-Asia-FirstCall/ -- Gulf Resources, Inc. (Nasdaq: GFRE) ("Gulf Resources" or the "Company"), a leading manufacturer of bromine, crude salt and specialty chemical products in China, announced today that on June 22, 2010 the Company completed transfer of ownership of bromine and crude salt manufacturing assets and closed the asset purchase agreement which it entered into on June 8, 2010.
Gulf Resources Begins Trial Production on New Chemical Additives Production Line for Wastewater Treatment
NEW YORK and SHANDONG, China, June 21 /PRNewswire-Asia-FirstCall/ -- Gulf
Resources, Inc. (Nasdaq: GFRE) ("Gulf Resources" or the "Company"), a leading
manufacturer of bromine, crude salt and specialty chemical products in China,
today announced that that the Company has completed the construction of its
new chemical additives production line for wastewater treatment and started
trial production.
The Company reaffirms the revenue contribution of approximately $9 to $10
million in the first year of operation with an estimated gross profit margin
of approximately 40%.
Gulf Resources Agrees to Acquire Bromine and Crude Salt Manufacturing Assets
NEW YORK and SHANDONG, China, June 8 /PRNewswire-Asia-FirstCall/ -- Gulf
Resources, Inc. (Nasdaq: GFRE) ("Gulf Resources" or the "Company"), a leading
manufacturer of bromine, crude salt and specialty chemical products in China,
today announced that its wholly-owned subsidiary Shouguang City Haoyuan
Chemical Company Limited ("SCHC") has signed an agreement to acquire
manufacturing assets involved in bromine and crude salt production from Jinjin
Li and Qiuzhen Wang, two individual residents of the People's Republic of
China.
"The acquisition will result in additional annual production capacity of
3,000 tons of bromine and 100,000 tons of crude salt, expanding the
consolidated annual production capacity of SCHC to 46,300 tons ...
/C O R R E C T I O N -- Gulf Resources, Inc./
In the news release, "Gulf Resources Agrees to Acquire Bromine and Crude
Salt Manufacturing Assets," issued today by Gulf Resources, Inc. (Nasdaq: GFRE)
over PR Newswire Asia, we are advised by the company that in the second
sentence of the second paragraph, "incremental revenue" should read
"incremental net income".
Angiotech Pharmaceuticals announces European approval of Boston Scientific Corporation's platinum chromium TAXUS(R) Element(TM) Stent System
VANCOUVER, May 12 /PRNewswire-FirstCall/ - Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX: ANP) today announced that its corporate partner, Boston Scientific Corporation (NYSE: BSX), has received CE Mark approval for its TAXUS(R) Element(TM) Paclitaxel-Eluting Coronary Stent System, Boston Scientific's third-generation drug-eluting stent (DES) technology.
Gulf Resources Reports First Quarter 2010 Results
NEW YORK and SHANDONG, China, May 11 /PRNewswire-Asia-FirstCall/ -- Gulf
Resources, Inc. (Nasdaq: GFRE) ("Gulf Resources" or the "Company"), a leading
manufacturer of bromine, crude salt and specialty chemical products in China,
today announced its financial results for the first quarter ended March 31,
2010.
First Quarter 2010 Highlights
-- Revenue was $29.7 million, a year-over-year increase of 25.6%
-- Gross profit was $13.5 million, a year-over-year increase of 33.3%
-- Gross margin increased to 45.3% from 42.7% for the first quarter of
2009
-- Income from operations was $11.1 million, a year-over-year increase of
24.7%
-- Operating margin was 37.2% compared to 37.5% for the first qu...
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