April 30, 2009
TSRC Corp. in Taiwan Raises Capacity to Meet Demand in China
Taipei, April 27, 2009 (CENS)--Thanks to the rising demand for automobile driven by mainland China`s program to drum up car sales in rural villages, TSRC Corporation, one of Taiwan`s leading manufacturers of synthetic rubber, is raising production capacity to meet such booming demand.
TSRC currently produces upstream rubber as butadiene, styrene butadiene rubber, polybutadiene rubber, thermoplastic elastomer, high-impact polystyrene, and so on.
At a recent institutional investor conference in Taipei, TSRC said its earnings growth will continue to the third quarter of this year as the quotation for synthetic rubber for the second quarter has risen in the wake of the rebound in material prices, noting its operations in China has been in the black in the first quarter, instead of last year`s red.
The company estimated its overall production capacity will grow by 14% year-on-year this year with the inauguration of a new plant in China.
Thanks to the increase in sales and write-downs of inventory losses, TSRC is expected to score pretax earnings of between NT$300 million (US$8.82 million) and NT$400 million (US$11.76 million), or between NT$0.58 and NT$0.6 in earnings per share, in the first quarter.
(by Ben Shen) - 2009/04/27
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