ERJ staff report (DS)
Singapore -- China Sunsine Chemical, the Chinese rubber chemical manufacturer recorded phenomenal growth in both sales and profits in the last six months. Revenues were up by almost 50 percent, to RMB 235 million (Euro 22 million) for the three months to June 2008, while gross profits were up by over 70 percent, to RMB 59.4 million.
Xu Cheng Qiu, Executive Chairman, China Sunsine said, "Our business model is a cost-plus model, ie we pass increases in raw materials to customers, allowing ourselves to earn a reasonable margin."
Sunsine claims to be the second biggest supplier of rubber chemicals (curatives and antidegradents) in the world, after Lanxess, and by far the biggest in China.
The company is growing fast in the export market and even faster in the domestic market, as the tyre industry in China expands rapidly. Currently about 674 percent of sales are i nthe domestic market, where the company claims a strong position with Hangzhou Zhongce, Shanghai Tyre, GiTi Tyre, as well as the international transplant operations. Overseas customers include Bridgestone, Goodyear and Kumho.
The company is shortly to bring on stream two new plants for TMQ, to add 5000 tonnes per year, and intends to expand its production of insoluble sulphur by 5000 tonne, due on stream by the end of 2008. In addition a new 10 kt/year MBT workshop is due on stream in the next few months.
The company says it wants to be the clear global leader in these products in the near future.
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Press release from China Sunsine