SunVic: Secures 5-yr sales agreement worth Rmb4.0b at current mkt price with existing customer. The delivery of acrylic acid (AA) in this will be effected pending the commencement of production of new AA plants in Taixing City, Jiangsu Province...
The new AA plants in Taixing City consist of 2 phases; phase 1 of 160k tons will commence in 4QFY2011 and phase 2 of 160k tons in 1H2012. As a guage, co reported FY10 rev of Rmb3.4b. Stock has seen 10.2% from low to high in 7 consec trading days of gains. Co currently trades at P/E of 3.8x
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