Wanhua raises nine-month revenue by 35% and announces investment plans

摘要

Yantai, China — Isocyanate producer Wanhua Chemical Group has reported a 35% rise in revenue to RMB 15.4bn ($2.5bn) in the nine months ended 30 September 2013, with a 42% increase of net profit to RMB 2.3bn. Despite the drop in MDI (methylene diphenyl diisocy-anate) price, the company's third-quarter revenue was up by 27%. In October, Wanhua released three investment announcements. It plans to pump RMB 1.6bn into building a 220,000 m~2 global R&D centre and HQ in Yantai in the next two years. The company said it will attempt to develop competitive technology for C3 and C4 streams to further diversify.