ZHENJIANG, China, May 5, 2017 /PRNewswire/ --Delta Technology Holdings Limited (Nasdaq: DELT) today announced the price of solvent, one of its principal byproducts, has quadrupled over the past 12 months. The solvent mainly consists of dichlorotoluene which is used in the production of exterior wall coating and industrial glues.
Mr. Shi, head of sales department, introduced, "The price of solvent is now around 4500 RMB/Ton. It was only 900-1200 RMB/Ton in Q1-Q3 2016. Solvent is one of the principal byproducts of our chemical manufacturing process. Delta produces between 100 and 300 tons of solvent in OCT/PCT production process every month, and because it's a byproduct, we don't attribute a material cost to its production. As a result, sales of solvent not only contribute to revenue growth, but are also highly accretive to margins. In light of this pricing trend, and in conjunction with continued sales growth, we expect the expanding sales trends identified in our January press release to continue and further increase, with expanding margins."
About Delta Technology Holdings Ltd.
Founded in 2007, Delta Technology is a leading China-based chemical company producing and distributing organic compounds. The end application markets of the Company's products include 380 clients in the automotive, pharmaceutical, agrochemical, dye & pigments, aerospace, ceramics, coating-printing, clean energy and food additive industries. Delta Technology has approximately 300 employees, many of whom are highly-qualified experts and technical personnel. The Company serves more than 380 clients in various industries and has announced its plans to move into the Biotechnology sector.
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded or followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. Forward-looking statements in this release also include statements about business and economic trends. Investors should also consider the areas of risk described under the heading "Forward Looking Statements" and those factors captioned as "Risk Factors" in DELT's periodic reports under the Securities Exchange Act of 1934, as amended, or in connection with any forward-looking statements that may be made by DELT.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/delta-technology-holdings-limited-announces-price-rising-of-byproduct-300452204.html
SOURCE Delta Technology Holdings Limited