Gulf Resources announces the basic completion of the civil work for its new chemical factory
June 30 2021 - 8:30AM
Gulf Resources, Inc. (Nasdaq: GURE) ("Gulf Resources", “we,” or the
"Company"), a leading manufacturer of bromine, crude salt and
specialty chemical products in China, today announced the civil
works have basically been completed for its new chemical factory
located at Bohai Marine Fine Chemical Industrial Park, Shandong
Province, China.
The new factory will focus more on production of the higher
margin pharmaceutical intermediate products. A photograph of the
new chemical factory facilities is shown below. Additional
photographs showing greater details are available on the Company’s
website (www.gulfresourcesinc.com).
Now that the buildings are basically complete, the Company
expects to begin purchasing and installing the machinery and
equipment. Once the machinery and equipment is installed, the
Company will begin to test the equipment, following by trial
production.
The Company will continue keeping shareholders updated with the
progress of its chemical factory.
About Gulf Resources, Inc.Gulf Resources, Inc.
operates through three wholly-owned subsidiaries, Shouguang City
Haoyuan Chemical Company Limited ("SCHC"), ShouguangYuxin Chemical
Industry Co., Limited ("SYCI"), and Daying County Haoyuan Chemical
Company Limited (“DCHC”). The Company believes that it is one of
the largest producers of bromine in China. Elemental Bromine is
used to manufacture a wide variety of compounds utilized in
industry and agriculture. Through SYCI, the Company manufactures
chemical products utilized in a variety of applications, including
oil and gas field explorations and papermaking chemical agents, and
materials for human and animal antibiotics. DCHC was established to
further explore and develop natural gas and brine resources
(including bromine and crude salt) in China. For more information,
visit http://www.gulfresourcesinc.com.
Forward-Looking Statements
Certain statements in this news release contain forward-looking
information about Gulf Resources and its subsidiaries business and
products within the meaning of Rule 175 under the Securities Act of
1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and
are subject to the safe harbor created by those rules. The actual
results may differ materially depending on a number of risk factors
including, but not limited to, the general economic and business
conditions in the PRC, the risks associated with the COVID-19
pandemic outbreak, future product development and production
capabilities, shipments to end customers, market acceptance of new
and existing products, additional competition from existing and new
competitors for bromine and other oilfield and power production
chemicals, changes in technology, the ability to make future
bromine asset purchases, and various other factors beyond its
control. All forward-looking statements are expressly qualified in
their entirety by this Cautionary Statement and the risks factors
detailed in the Company's reports filed with the Securities and
Exchange Commission. Gulf Resources undertakes no duty to revise or
update any forward-looking statements to reflect events or
circumstances after the date of this release.
CONTACT: Gulf Resources, Inc.
Web: |
http://www.gulfresourcesinc.com |
|
Director of Investor
Relations |
|
Helen Xu (Haiyan Xu) |
|
beishengrong@vip.163.com |
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/90e89b6b-0961-4b3c-ad37-ad29e65292f5
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