Ecowise: The recycling co says it will continue to expand market share of its tyre retreading and rubber compound business. The co. reported that 4QFYMar10 net loss narrowed slightly to $500k from $551k last yr. Revenue months rose 4.4% yoy to $18.2m, mainly due to the acquisition of Msia subsidiaries in Jul ’10…
For FY10, the co registered a loss of $1.34m mainly due to the coal fired co-gen operations in Wuhan, asset disposal in Wuhan, lower used copper slag related activities and new business/ project development cost. The group is now streamlining its operations to improve operational efficiency and strengthen the core competencies in each business segment and unit.
Technically stock may have bottomed out at $0.11. But resistance at $0.15 may cap.
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