Description of Gulf Resources Inc's Business Segments
Bromine and Crude Salt
We manufacture and distribute bromine through our wholly-owned subsidiary, Shouguang
City Haoyuan Chemical Company Limited, or SCHC. 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. Our bromine is commonly used in brominated
flame retardants, fumigants, water purification compounds, dyes, medicines and
disinfectants.
The extraction of bromine in the Shandong Province is limited by the Provincial
Government to licensed operations. We hold one such license. As part of our
business strategy, it is our plan to continue acquiring smaller scaled and unlicensed
producers and to use our bromine to expand our downstream chemical operations.
Crude Salt
We also produce crude salt, which is produced from the evaporation of the wastewater
after our 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 and beverage, and other industries.
Chemical Products
We produce chemical products through our wholly-owned subsidiary, Shouguang
Yuxin Chemical Industry Company Limited, or SYCI and Shouguang City Rongyuan
Chemical Co, Ltd (PRC), or SCRC.
SYCI concentrates its efforts on the production and sale of chemical products
that are used in oil and gas field explorations, oil and gas distribution, oil
field drilling, wastewater processing, papermaking chemical agents, and inorganic
chemicals. SYCI also engages in research and development of commonly used chemical
products as well as medicine intermediates. Currently, SYCIs annual production
of oil and gas field exploration products and related chemicals is over 26,000
tons, and its production of papermaking-related chemical products is over 5,000
tons. These products are mainly distributed to large domestic papermaking manufacturers
and major oilfields such as Shengli Oilfield and Talimu Oilfields.
SYCI’s factories are located in Shouguang City at 2nd Living District,
Qinghe Oil Factory, Shouguang City, Shandong Province, China. The company has
been certified as ISO9001-2000 compliant and received the Quality Products and
Services Guarantee Certificate from China Association for Quality. SYCI has
been accredited by Shandong as a Provincial Credit Enterprises and is a Class
One supplier for both China Petroleum & Chemical Corporation (“SINOPEC”)
and Petro China Company Limited.
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