20th Jul 2015 16:27
20 July 2015
GTS Chemical Holdings plc
("GTS" or the "Company" or the "Group")
Result of AGM
GTS Chemical Holdings plc, the specialty chemicals producer and China's largest producer of ammonium sulfite, announces that at the annual general meeting held today, all resolutions put to shareholders were duly passed.
Enquiries:
GTS Chemical Holdings plc Mr Roy Su, CFO |
Tel: +86 159 5935 8899 www.gtschemical.com
|
SP Angel Corporate Finance LLP Nominated Adviser and Broker David Facey / Stuart Gledhill
| Tel: +44 (0) 20 3470 0470 |
Yellow Jersey PR Limited | Tel: +44 (0) 7738 076 304 |
Dominic Barretto / Alistair de Kare-Silver
|
About GTS Chemical Holdings plc
GTS manufactures specialty chemicals for the paper and chemicals industry. The Group is the largest Chinese producer of ammonium sulfite, a chemical used to manufacture paper from straw. GTS has also a rapidly growing lubricant oil division, which services the automotive and industrial markets. Trading in recarburizer is its third division, which accounts for less than 10% of Group revenue.
The Group is located in Shandong Province, one of the largest provinces in China, ranked by GDP, and an area rich in downstream industries. GTS' location also means it is close to several chemical plants and paper factories, which gives it a distinct advantage over its competitors.
The Company is exposed to structural growth in the paper industry and chemicals sector, and market research estimates that from 2014 to 2020, China's demand for ammonium sulfite, led by the paper industry, is set to grow at an annual compound growth rate of 12%. GTS stands to gain from the Chinese Government's support of the non-wood paper industry and its drive to restructure the lubricant oil market through increased regulation and higher standards, which favour the more modern producer.
The Group has a history of strong profit growth and consistently high operating margins.
Related Shares:
GTS.L