26th Oct 2011 07:00
Press Release | 26 October 2011 |
Sorbic International plc
("Sorbic International" or the "Company")
Trading Update
Sorbic International plc (AIM:SORB), the third largest sorbates producer in China, today provides a trading update ahead of its Preliminary Results which will be announced in early December 2011.
The Board is pleased to confirm that trading for the year ended 30 September 2011 was in line with market expectations. Construction of the Company's new production facility in Ulanqab City, Inner Mongolia, remains on schedule with the potassium sorbate line almost complete and ready for production in early 2012.
John McLean, Chairman of Sorbic International, said: "The Board looks forward to updating shareholders on the imminent completion of the Company's new facility, which will significantly increase production capacity. Trading is in line with expectations, and the Board will give a further update at the time of the results. We remain confident about the Company's growth prospects."
- Ends -
For further information: | |
Sorbic International plc | Tel: +44 (0)7768 031 454 |
John McLean, Chairman | www.sorbicinternational.com |
FinnCap | |
Geoff Nash / Ben Thompson/ Simon Starr (broking) | Tel: +44 (0) 20 7600 1658 |
Media enquiries:
Abchurch Communications | |
Joanne Shears / Mark Dixon | Tel: +44 (0)20 7398 7709 |
www.abchurch-group.com |
Notes to Editors: www.sorbicinternational.com
About Sorbic International plc
Sorbic International's principal activity is the production and sale of the food preservatives Sorbic Acid and Potassium Sorbate from its base in Linyi City, Shandong Province, Peoples Republic of China. Approximately half of Sorbic International's production is sold to overseas markets, across 46 countries and half into the Chinese domestic market.
Sorbic Acid is a naturally occurring organic compound that is used in all kinds of foods for its anti-decomposition and anti-fungus function and also in grains, medicines, cosmetics, toothpaste, tobacco, animal feed, latex, paper-manufacturing and pesticides. Potassium Sorbate is used to inhibit moulds and yeasts in many foods, such as cheese, wine, yogurt, dried meat, baked goods, cosmetics and pharmaceuticals.
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