Shares of Delta Technology Holdings (NASDAQ: DELT) are up 5% this morning after the company said the price of its solvent has quadrupled over the past 12 months. The solvent, which is one of the company’s principal byproducts, consists primarily of dichlorotoluene. Dichlorotoluene is used in the production of exterior wall coating and industrial glues. “Delta produces between 100 and 300 tons of solvent in OCT/PCT production process every month, and because it’s a byproduct, we don’t attribute a material cost to its production. As a result, sales of solvent not only contribute to revenue growth, but are also highly accretive to margins. In light of this pricing trend, and in conjunction with continued sales growth, we expect the expanding sales trends identified in our January press release to continue and further increase, with expanding margins,” the company stated in the news release.
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About Delta Technology Holdings Ltd.
Founded in 2007, Delta Technology is a China-based chemical company producing and distributing organic compounds. The end application markets of the company’s products include 380 clients in the automotive, pharmaceutical, agrochemical, dye & pigments, aerospace, ceramics, coating-printing, clean energy and food additive industries. Delta Technology has approximately 300 employees, many of whom are highly-qualified experts and technical personnel. The company serves more than 380 clients in various industries and has announced its plans to move into the Biotechnology sector. For more information on the company, www.deltath.com.
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