MOSCOW (MRC) -- Keyuan Petrochemicals Inc., an independent manufacturer and supplier of various petrochemical products in China, reported its preliminary financial results for the year and quarter ended December 31, 2012, said Ningbolife.
The Company expects total revenues for the year ended December 31, 2012 to be between approximately USD750.6 million. For the year ended December 31, 2012, the Company expects total net loss to be approximately USD 3.3 million.
The Company cautions that all of these financial results are preliminary and subject to change, possibly material, following the completion and analysis of the financial statements for the year ended December 31, 2012. The Company reiterates that the above preliminary and unaudited financial information does not represent all of the information that would normally be included in an Annual Report on Form 10-K with respect to the Company's financial results.
As MRC wrote earlier, Keyuan Petrochemicals Inc received three patent notices from the Patent Office of China regarding inventions related to the production process of acrylonitrile.
Keyuan Petrochemicals, Inc., established in 2007 and operating through its wholly-owned subsidiary, Keyuan Plastics, Co. Ltd., is located in Ningbo, China and is a leading independent manufacturer and supplier of various petrochemical products. Having commenced production in October 2010, Keyuan's operations include an annual petrochemical manufacturing design capacity of 720,000 MT for a variety of petrochemical products, with facilities for the storage and loading of raw materials and finished goods, and a technology that supports the manufacturing process with low raw material costs and high utilization and yields. In order to meet increasing market demand, Keyuan plans to expand its manufacturing capacity to include a SBS production facility which was completed in September 2011 and one production line has entered into commercial production, additional storage capacity, a raw material pre-treatment facility, an asphalt production facility, and an ABS production facility.
MRC