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BRIEF-Gulf Resources Provides Updates On Its Chemical Business
November 30, 2017 / 1:13 PM / in 14 days

BRIEF-Gulf Resources Provides Updates On Its Chemical Business

Nov 30 (Reuters) - Gulf Resources Inc:

* GULF RESOURCES PROVIDES UPDATES ON ITS CHEMICAL BUSINESS

* GULF RESOURCES INC - ‍ON NOV 24, CO RECEIVED LETTER FROM PEOPLE‘S GOVERNMENT OF YANGKOU COUNTY, SHOUGUANG CITY​

* GULF RESOURCES INC - LETTER ‍ NOTIFYING CO, DUE TO NEW STANDARDS,REGULATIONS, DECIDED TO RELOCATE CHEMICAL ENTERPRISES TO NEW INDUSTRIAL PARK​

* GULF RESOURCES INC - ‍BELIEVE THE RELOCATION PROCESS WILL COST BETWEEN $50 MILLION TO $60 MILLION​

* GULF RESOURCES INC - ‍WILL TAKE A WRITE-DOWN TO BOOK VALUE AFTER DETERMINING WHICH EQUIPMENT WE WILL MOVE AND WHICH WE WILL REPLACE​

* GULF RESOURCES INC -“‍IN 2019, WE EXPECT TO HAVE OUR NEW CHEMICAL FACTORY BEGIN OPERATIONS​” Source text for Eikon: Further company coverage:

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