Zibo Wanchang Science & Technology Co., Ltd. (Zibo Wanchang), the largest trimethyl orthoformate (TMOF) producer in China, achieved a good performance in its sales revenue of TMOF, an important raw material of azoxystrobin, though the company's total revenue witnessed a slight decline in 2011, according to CCM’s April Issue of Fungicides China News.
Generally speaking, Zibo Wanchang's total revenue and net profit decreased by 0.33% and 4.67% year on year in 2011 to USD39.07 million and USD10.62 million respectively. However, the company's sales revenue of TMOF increased by 22.59% in 2011 compared with that in 2010 to USD25.23 million, accounting for 64.58% of its total revenue.
Due to the maintenance of production equipment, Zibo Wanchang's production was affected to a certain extent, leading to its total output reduction in 2011, hitting 24,000 tonnes, down 7.26% year on year. Under the circumstances, Zibo Wanchang's total revenue witnessed a decline last year.
On the contrary, the output of Zibo Wanchang's TMOF increased to 8,870 tonnes in 2011, up 18.66% compared with that in 2010, thanks to the robust demand from downstream industries, like pesticides and medicine, and the company's timely adjustment of operation plan of production lines. As a result, the company's sales revenue of TMOF saw a rise last year.
It is particularly worth noting that Zibo Wanchang's revenue from overseas market (refers specifically to direct export by itself) witnessed significant growth in 2011, reaching USD4.59 million from USD24,346 in 2010. Owing to its enhanced ability of foreign trading, Zibo Wanchang established close business relationship with several overseas enterprises last year, which greatly raised its export revenue accordingly.
In terms of domestic sales situation, Zibo Wanchang's revenue from Shanghai was the most in 2011 and took up 41.72% of its total revenue, followed by Shandong , Jiangsu , Zhejiang Shanghai and Shandong witnessed growth, while those from Jiangsu and Zhejiang
Source: Fungicides China
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