AGM results and trading update
03 Juin 2009 - 10:53AM
UK Regulatory
TIDMCBI
RNS Number : 2778T
China Biodiesel International Hold
03 June 2009
China Biodiesel International Holding Co., Ltd.
AGM results and trading update
The board of directors of China Biodiesel International Holding Co., Ltd.(AIM :
CBI) ("CBI" or "the Company") is pleased to announce that all the resolutions
proposed were duly passed at the annual general meeting of the Company ("AGM")
held earlier today.
At the AGM the Chairman of the Company, Huodong Ye, made the
following statement:
"The challenges faced by the Company in 2008 resulting from the international
financial crisis have continued into 2009. However we are pleased to report that
shipments have started to rise since March. Production at the Longyan plant has
returned to the average level of 2008 and the Xiamen plant was reopened in
April. Both plants focus on the production of BII, which is used as a
substitute for petrochemical material and thus has a higher added value over
normal biodiesel fuel. The total shipment for the first four months of 2009 was
7,601 tons, this compares to 8,010 tons shipped during the first four months of
2008.
The board has seen a recent rises in the price of feedstock which has been
passed through to customers through increased selling prices. We continue to
focus on maintaining margins through cost control and secured feedstock supply.
Overall, the board believes the Company is well placed for the future and
remains positive on the outlook for 2009.
For further information:
Gloria He, CFO: +86 (592) 7191103
James Wang, Company Secretary: +86 (592)
7191109
Tom Price or Bobbie Hilliam
Evolution Securities: +44 (0) 20 7071 4300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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