CNNC TD Stopped Production from Sep20

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CNNC TD (002145) Notice: Since Oct,2008—the time of the resumption of full-scale production in CNNC, the price has dropped a lot(from 15,500 yuan / ton in the beginning of 2008 to 12,500 yuan / ton ),although the raw materials has descended as well. Owing to the financial crisis and the advent of winter, the demand of titanium dioxide market declined and the produce inventories increased. Thus cause the cash flow problems. To soothe the above problems, the company decided to stop two production lines n December 20, 2008. During this, they will do a thorough renovation o the production lines and a comprehensive inspection to the equipments at the same time. Meanwhile, the company will increase product sales, and make every effort to reduce inventory and actively raise funds to resume in mid- February, 2009. As this stop will have an impact on the completion of the annual production plan, the loss will increase about 8-10 million yuan.
2008-12-24 收起回复

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