Continue Business Transformation to Specialty Chemical
Position Strategic Investment in Green Chemical across Strait
Annual Report and Financial Statements were approved and a cash dividend distribution with 1.7 NTD per share was passed.
After the global economy downturn in 2008, OUCC was able to regain its ground in 2009, in favor of an overall rebound in petrochemical industry, and sustain growth with annual sales revenues of 9.66 billions NTD and profits after taxes 1.43 billions NTD, or EPS 1.81 NTD, which was a growth rate of 28% compared to 2008 with a good profit return from our PTA investment through OPSC in Shanghai. Entering 2010, the first quarterly earning with an EPS 0.67 NTD is a significant increase of 350% compared to 1Q/2009, which has moved OUCC close to its boom performance.
Looking into the future, OUCC is committed to business transformation to specialty chemical and positioning our core businesses and strengths across strait. OUCC is undergoing construction of a 40 kta EOD plant in Linyuan, resulting from years’ developmental efforts in R&D. This plant with inclusion of the preferential 5-Year Tax Holiday is expected to launch its production by 4Q/2011. In China, EA plant in Yang-Zhou Industrial Chemical Park is expected to complete by 4Q/2010 to meet the growing demands of China’s market in agrochemicals, cosmetics and personal care products. This will maintain OUCC as lead EA supplier position in Asia. Future plans/growth including investment in EO/EG and other downstream EO derivatives to vertically integrate our core business will sustain OUCC competitive.
In addition, as OUCC’s future key lies in its innovation and new business creation, R&D team has been devoting to the tasks for the development of high-value added EOD and other specialty chemicals. OUCC has been actively seeking external cooperation via technology importation, besides our own in-house research & development, to improve and strengthen our SC competitive advantage. In advent of the ‘low carbon economy’ era, OUCC has deemed ‘green chemical’ as a strategic direction and engagement and a benchmark to our future advances. With a blueprint of a bio-refinery in mind, OUCC is currently evaluating the use of biomass materials to generate ethanol and then ethylene prior to the production of green MEG, an essential material used in manufacture of environment-friendly polyesters or PET by downstream. By which move it not only eliminates our dependence on petrochemical materials, but also fulfills customers’ expectation over environment-friendly products.
In summary, OUCC will continue to chase it’s persistent and sustainable growth at a faster speed with the planned strategy into a diversified specialty chemical company and in turn, to create added & high values for our customers, shareholders and employees.