Gulf Resources (Shouguang, China), one of China's largest manufacturersof bromine, crude salt, and specialty chemical product, reported third-quarter net income of $14.9 million, up 79 from the same period last year. Sales rose 62, to $44.8 million, on higher average selling prices of bromine. Gulf Resources says demand was strong for brominated flame retardants, fumigants, water purification compounds, dyes, medicines, and disinfectants in the China market during the third quarter. Looking forward, Gulf Resources says it will evaluate acquisition targets to further expand its share in bromine and crude salt productionmarkets. "With our strong balance sheet and capital flexibility, we believe we will accomplish our production capacity expansion plan and solidify our leadership in the bromine and crude salt markets in China," says CEO Xiaobin Liu. The company says it also plans to move into the market for downstream brominated products, including pharmaceutical intermediates.
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