She's Rolling Rollison Big Day Here :~)$(~:
Must of got that 3.9 mill GLTA
Gulf Resources to Receive Compensation for Factory No. 3's Relocation
SHANDONG, China, Sep 26, 2013 (GLOBE NEWSWIRE via COMTEX) -- Gulf Resources, Inc. GURE +56.67% ("Gulf Resources" or the "Company"), a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced that Shouguang City Haoyuan Chemical Ltd. Co., a wholly-owned subsidiary of the Company, has signed a compensation agreement with Dong Ying City Transportation Bureau and the local government of Liuhu Township, Dongying City, Shandong Province for costs related to the relocation of the Company's Factory No. 3 on September 25, 2013.
Pursuant to the construction arrangements for Deda railway, the land of where the Company's bromine Factory No.3 located need to be requisitioned, and the relevant production and supporting facilities over the land need to be demolished. The company will build a new factory in its mining area and the useful plants and machineries from the original factory will be relocated to the new location.
The Dong Ying City Transportation Bureau and the local government of Liuhu township, Dongying City have agreed to compensate the company with RMB 23,824,452.5 (approximately USD 3.9 million) for the Factory No. 3's relocation expenses and maintenance cost. The Company expects that the new Factory No. 3 will be in operation within three to six months.
