SDTH 10.0
Shengdatech, Inc. engages in developing, manufacturing, and marketing nano precipitated calcium carbonate (NPCC) products. Its NPCC products are used in paper, paints, rubber, plastic, tire, and polyvinyl chloride building materials industries. The company also offers coal based chemicals, including ammonium bicarbonate used in nitrogenous fertilizers; liquid ammonia; methanol, which is used in chemical, pharmaceutical, light, and textile industries, as well as an alternative to fossil fuel; and melamine, an intermediate product of resin. Its coal based chemicals are also used as raw materials for the production of organic and inorganic chemical products, including formaldehyde and pesticides. Shengdatech, Inc. offers its products to the manufacturers and distributors of agrochemicals primarily in Shandong and other parts of northern China. The company was founded in 2005 and is based in Tai'an City, China.
Friday August 15, 4:04 pm ET - Second Quarter 2008 Highlights
-- Revenue for the second quarter increased 75.7% year-over-year to $39.8 million
-- Gross margin increased 300 basis points year-over-year to a record 36.8%
-- Net income increased 66.3% year-over-year to $10.0 million, or $0.18 per diluted share
-- Developed new NPCC product for application in automobile undercoating paints
-- Began production and shipment of NPCC products from the three new stainless steel NPCC lines with a total annual capacity of 60,000 metric tons
-- Raised $115 million in gross proceeds from a convertible senior notes offering, including full exercise of the over-allotment option
-- Selected Zibo, Shandong Province as site to build the next new NPCC production facility with annual capacity of 120,000 metric tons
-- Announced intent to acquire leading nitric acid fertilizer company, Jinan Fertilizer Co. Ltd. ("Jinan Fertilizer"), and relocate coal- based chemical operations to Jinan City, Shandong Province
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