Gulf Resources, Inc. Announced Bromine Factories #1 and #7 Commencing Commercial Production
April 06 2020 - 8:30AM
Gulf Resources, Inc. (NASDAQ:GURE) ("Gulf Resources" or the
"Company"), a leading manufacturer of bromine, crude salt and
specialty chemical products in China today announced that Factories
#1 and #7 the Company commenced commercial production of bromine
and crude salt on April 3, 2020.
These two factories started trial production in the middle of
March 2020. Based on the results of the trial production, the
Company tried its best to get these two factories started
commercial production at the same time due to the strong demand
from market. The Company anticipates that the production rate will
ramp up over the next four to six weeks.
Trial production at Factories #4 and #9 of the Company is
planned to commence in the middle of April 2020. At the present
time, the Company expects these two factories to commerce
commercial production by the beginning of May 2020.
Gulf Resources believes that there will be strong demand for its
products, especially because of the pandemic of COVID-19. Bromine
is an important component of disinfectants. According to the
official website of the Los Alamos National Laboratory of U.S.,
bromine is used in making water purification compounds, medicines
and sanitizers. In addition, the U.S. Centers for Disease Control
and Prevention (CDC) has stated in its official website that
“proper operation, maintenance, and disinfection (e.g. with
chlorine and bromine) of pools and hot tubs should remove or
inactivate the virus that causes COVID-19.”
With its strong historical records as one of the largest bromine
producers in China, Gulf Resources expects to produce bromine to
meet market demand in the current global public healthcare
crisis.
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through three wholly-owned
subsidiaries, Shouguang City Haoyuan Chemical Company Limited
("SCHC"), Shouguang Yuxin 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 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, 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 |
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