Keyuan Petrochemicals Inc. independent manufacturer and supplier of various petrochemical products in China, announced that it has engaged with Shanghai East China University of Science and Technology and Ningbo Institute of Technology, Zhejiang University to study on improving our production efficiency and expanding our product diversity in order to reduce adverse effect by oil price fluctuation and outside industry environment.
In the first six months of 2012, the international extreme fluctuation of oil price has caused substantial negative impact on the whole petrochemical industry and most petrochemical companies including Keyuan. To address this issue, Keyuan engaged with research institutes in Shanghai and Zhejiang province to study the possibility and feasibility to diversify its products, develop high value-added products and improve its production efficiency so that the Company can have more stable long-term development and optimized product structures.
“Currently, the company is focusing to improve its operation, to adjust its original products structure, and ultimately maximize shareholder value with strong performance,” explained Mr. Chunfeng Tao, Chairman and Chief Executive Officer of Keyuan Petrochemicals Inc. “As always, every action we are taking is aimed for the Company’s long-term development and to improve the Company from all aspects.”
