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CSRC, Taiwan Prosperity Chemical to Expand Output in 2011

2010/11/11 | By Ben Shen

Taipei, Nov. 11, 2010 (CENS)--Thanks to the increased demand for chemicals in China, CSRC Corp. and Taiwan Prosperity Chemical Corp., both subsidiaries of the Taiwan Cement Group, will aggressively boost production capacities in 2011.

One of Taiwan's leading manufacturers of carbon black and lithium battery, CSRC will focus on increasing production of new products as specialty carbon black and carbon nanotubes by 10 million metric tons respectively in both China and India in 2011.

H.C. Perng, acting president of CSRC, said his company will balance production and sales in the fourth quarter of this year due to the booming demand for the product. But the selling prices for the product in the fourth quarter will be as flat as the preceding quarter.

CSRC said it will expand annual output of specialty carbon black by 10 million metric ton in its plant in Anshan City, northeastern China in 2011, as well as set up a new plant in India to produce carbon nanotubes, which will begin construction sometime in 2011.

Taiwan Cement Group chairman Leslie Koo said thanks to rising prices of crude oil and balanced demand and supply, Taiwan Prosperity Chemical will secure good performance this year over the past several years, with growth in sales volume and selling prices.

The company predicted it will secure compound annual growth rate of 4.62% in production capacity between 2010 and 2014.

An institutional investor said Taiwan Prosperity Chemical will expand annual output of phenol to 450,000 metric tons in 2011 from this year's 400,000 metric tons. The company will also raise annual production capacity for anone to 180,000 metric tons in the near future from this year's 170,000 metric tons.