Gulf Resources
(NASDAQ: GURE)
1.18
-0.02
-1.67%
-0.02
-1.67%
MORE ON GURE
COMPANY INFORMATION
| Exchange: | NASDAQ national market |
| Stock: | Gulf Resources, Inc. |
| Industry: | Specialty Chemicals |
| Employees: | 575 |
DESCRIPTION
| Gulf Resources, Inc. was incorporated in Delaware on February 28, 1989. The Company manufactures and trades bromine and crude salt, and manufactures and sells chemical products used in oil and gas field exploration, oil and gas distribution, oil field drilling, wastewater processing, papermaking chemical agents and inorganic chemicals. The Company’s business operations are conducted in three segments, bromine, crude salt, and chemical products. The Company manufactures and distributes bromine through its wholly-owned subsidiary, Shouguang City Haoyuan Chemical Company Limited. Bromine (Br2) is a halogen element and it is a red volatile liquid at standard room temperature which has reactivity between chlorine and iodine. Elemental bromine is used to manufacture a wide variety of bromine compounds used in industry and agriculture. Bromine is also used to form intermediates in organic synthesis, in which it is somewhat preferable over iodine due to its lower cost. The Company’s bromine is commonly used in brominated flame retardants, fumigants, water purification compounds, dyes, medicines and disinfectants. The Company also produces crude salt, which is produced from the evaporation of the wastewater after the Company’s bromine production process. Once the brine is returned to the surface and the bromine is removed, the remaining brine is pumped to on-site containing pools and then exposed to natural sunshine. This causes the water to evaporate from the brine, resulting in salt being left over afterwards. Crude salt is the principal material in alkali production as well as chlorine alkali production and is widely used in the chemical, food & beverage, and other industries. The Company produces chemical products through its wholly-owned subsidiary, Shouguang Yuxin Chemical Industry Company Limited. The Company has in-house sales staff of 8 persons. Its customers send their orders to it first. Its in-house sales staff then attempts to satisfy these orders based on their actual production schedules and inventories on hand. The markets for the Company’s products have been experiencing increased levels of demand as China continues its recent pace of accelerated growth. The markets for its products are highly competitive. All of its operating activities in China have been authorized by or obtained written consent from land and resources departments of local governments. In addition, all of its operations are subject to and have passed government safety inspections. The Company also has been granted environmental certification from the PRC Bureau of Environmental Protection. |
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