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Gulf Resources and Shandong Institute
of Light Industry Establish Cooperative Research and Development
Program
July 07, 2008
Gulf Resources, Inc. (OTCBB: GFRE), a leading producer of bromine,
crude salt and specialty chemicals in China, today announced that
its specialty chemicals subsidiary has established a cooperative
research and development agreement with the Shandong Institute of
Light Industry to create improved products for use in the
papermaking industry.
This agreement is designed to create new, superior paper additives
for use in the production of high quality specialty paper products.
This research and development initiative with Shandong Institute of
Light Industry gives Gulf Resources the sole right to use any
products and technologies developed for a period of two years.
The Shandong Institute of Light Industry (SDILI) is a university
recognized for its research and expertise in the development of
technology for major chemical manufacturing sectors including
papermaking and catalytic compounds.
"We are excited to enter into this partnership with the Shandong
Institute of Light Industry to jointly develop new specialty
chemicals for the papermaking industry where we believe significant
market opportunities exist," said Ming Yang, Chief Executive Officer
of Gulf Resources. "Combining their recognized expertise in
papermaking chemicals with our broad customer base and strong
relationships will strengthen our product portfolio by serving this
expanding market."
Shandong Institute of Light Industry was founded in 1948 and is the
only light-industry-based higher education institution in Shandong
Province. SDILI is situated in Jinan, the capital city of Shandong,
and possesses an abundance of scientific research facilities and is
a comprehensive multi-disciplinary university with a strong academic
reputation.
About Gulf Resources, Inc.
AdvertisementGulf Resources, Inc. operates through two wholly-owned
subsidiaries, SCHC and SYCI. SCHC is engaged in the production and
sale of bromine and crude salt in China. Bromine is used to
manufacture a wide variety of compounds utilized in industry and
agriculture. SYCI manufactures chemical products utilized in a
variety of applications, including oil & gas field explorations and
as papermaking chemical agents.
For more information, please visit: www.gulfresourcesco.com
Forward-Looking Statements
Certain statements in this news release contain forward-looking
information about Gulf Resources and its subsidiaries business and
products within the meaning of Rule 175 under the Securities Act of
1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and
are subject to the safe harbor created by those rules. The actual
results may differ materially depending on a number of risk factors
including, but not limited to, the general economic and business
conditions in the PRC, future product development and production
capabilities, shipments to end customers, market acceptance of new
and existing products, additional competition from existing and new
competitors for bromine and other oilfield and power production
chemicals, changes in technology, the ability to make future bromine
asset purchases, and various other factors beyond its control. All
forward-looking statements are expressly qualified in their entirety
by this Cautionary Statement and the risks factors detailed in the
Company's reports filed with the Securities and Exchange Commission.
Gulf Resources undertakes no duty to revise or update any
forward-looking statements to reflect events or circumstances after
the date of this release.
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