Asia Carbon Industries, Inc. announced its earnings for the quarter ended March 31, 2013. The company, whose shares trade in the U.S. on the OTCQB Tier of the OTC Markets under the stock symbol "ACRB", filed its quarterly report on Form 10-Q with the Securities and Exchange Commission on May 15, 2013.
Commenting on the results, Yao Guoyun, Asia Carbon's Chairwoman of the Board and Chief Executive Officer, stated, "Asia Carbon has dedicated the past six months to complete conversion of our manufacturing facilities from commodity grade to specialty carbon black production. Although this has impacted our operating results during this period, we expect to see returns on this investment as soon as the new production goes online in the third quarter, as specialty carbon black commands prices ranging upwards of $2,400 per ton while traditional carbon black is typically sold for less than $1,000 per ton." Ms. Yao went on to say "We undertook this project to better serve our primary customer, tire manufacturers, particularly those that produce higher quality tires. China is not only the world's largest producer of tires, it is also the largest consumer, and we believe our ability to offer our customers a higher grade product positions Asia Carbon to fully participate in this thriving market."
Source: rubberworld.com
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