Keyuan Petrochemicals Inc. Announces Third Quarter 2011 Financial Results

Keyuan Petrochemicals Inc. /quotes/zigman/6896063/quotes/nls/keyp KEYP 0.00% , ("Keyuan" or "the Company"), an independent manufacturer and supplier of various petrochemical products in China, today announced the Company's financial results for the nine months ended September 30, 2011.

"Our first nine months 2011 revenues benefitted from solid customer demand and expanded production capacity," declared Mr. Chungfeng Tao, Chairman and Chief Executive Officer of Keyuan Petrochemicals Inc. "Although our margins were negatively impacted by higher raw materials costs and one-time legal and administrative expenses related to the investigation, we generated strong cash flows, which allow us to continue funding our growth initiatives. With our new SBS production facility ramping into commercial production later this month, I believe Keyuan's core earnings potential continues to improve."

(marketwatch.com)