China Clean Energy reports first-quarter loss

June 17, 2008

China-based biodiesel and specialty chemicals producer China Clean Energy Inc. posted a net profit of $1.04 million in its first quarter of 2008, down from $1.15 million profit during the same quarter last year. This was likely because of a spike in the cost of biodiesel feedstocks-waste cooking, cottonseed and rapeseed oil-and stagnant diesel pricing, two factors that also caused the company to suspend its biodiesel production. It will step up the production of higher-value specialty chemicals to offset the loss in revenue from its biodiesel business.

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