GTS Gts Chemical

TIDMGTS

RNS Number : 5602T

GTS Chemical Holdings PLC

20 July 2015

20 July 2015

GTS Chemical Holdings plc

("GTS" or the "Company" or the "Group")

Result of AGM

GTS Chemical Holdings plc, the specialty chemicals producer and China's largest producer of ammonium sulfite, announces that at the annual general meeting held today, all resolutions put to shareholders were duly passed.

Enquiries:

 
 GTS Chemical Holdings plc 
  Mr Roy Su, CFO                    Tel: +86 159 5935 8899 
                                    www.gtschemical.com 
 SP Angel Corporate Finance       Tel: +44 (0) 20 3470 0470 
  LLP 
  Nominated Adviser and Broker 
  David Facey / Stuart Gledhill 
 Yellow Jersey PR Limited         Tel: +44 (0) 7738 076 
                                   304 
 Dominic Barretto / Alistair 
  de Kare-Silver 
 

About GTS Chemical Holdings plc

GTS manufactures specialty chemicals for the paper and chemicals industry. The Group is the largest Chinese producer of ammonium sulfite, a chemical used to manufacture paper from straw. GTS has also a rapidly growing lubricant oil division, which services the automotive and industrial markets. Trading in recarburizer is its third division, which accounts for less than 10% of Group revenue.

The Group is located in Shandong Province, one of the largest provinces in China, ranked by GDP, and an area rich in downstream industries. GTS' location also means it is close to several chemical plants and paper factories, which gives it a distinct advantage over its competitors.

The Company is exposed to structural growth in the paper industry and chemicals sector, and market research estimates that from 2014 to 2020, China's demand for ammonium sulfite, led by the paper industry, is set to grow at an annual compound growth rate of 12%. GTS stands to gain from the Chinese Government's support of the non-wood paper industry and its drive to restructure the lubricant oil market through increased regulation and higher standards, which favour the more modern producer.

The Group has a history of strong profit growth and consistently high operating margins.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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