Asia Carbon revenues more than double in Q2

ERJ staff report (DS)

New York -- Asia Carbon Industries, Inc. has reported earnings for the three months to 30 June, 2011. Revenues for the second quarter of 2011 increased 131 percent to $13.5 million in 2011 from $5.86 million for the same period in 2010. Gross profit increased 272 percent to $2.95 million in the second quarter of 2011 from $0.79 million for the same period in 2010.

Of this increase in sales, 28 percent of the total came from increased unit sales price for its carbon black products. The average unit sales price for Asia Carbon's carbon black products was $1,027 per metric ton during the second quarter of 2011, an increase of $204 per ton, or 25 percent, from $823 per ton during the second quarter of 2010.

Ms Yao Guoyun, Asia Carbon's Chairman of the Board and Chief Executive Officer, commented, "China now represents the largest automotive market in the world and we expect the domestic tyre market will follow suit. The chemical properties of our N220-W product are very attractive to tyre manufacturers, our primary customers. We are evaluating a small number of opportunities to increase our capacity in the near term so that we can capitalise on this strength."

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Press release from Asia Carbon