NEW YORK (April 2, 2012)—Asia Carbon Industries Inc. saw sales rise by 65 percent in 2011 to $49.1 million from $29.7 million in 2010. Net income for 2011 was $7.3 million, more than double the $3.3 million reported in 2010.
Earnings per share were at $0.14 for the year, compared to $0.07 for 2010.
The company's total carbon black production capacity was 61 and 35,000 metric tons per year as of Dec. 31, 2011 and 2010, respectively. The production/total capacity utilization rate was 78 percent and 92 percent during 2011 and 2010, respectively.
Asia Carbon sold 49,683 metric tons of carbon black and naphthalene oil, an increase of 16,478 tons, or 50 percent, compared to 33,205 tons in 2010.
Yao Guoyun, CEO of Asia Carbon, said demand for the company's products remains strong and it plans to add manufacturing capacity to its infrastructure to meet anticipated market needs.
She said the company has also begun the groundwork for the construction of an on-site power plant, which is expected to be completed by year-end.