Philippine Daily Inquirer
First Posted 21:40:00 11/14/2008

http://business.inquirer.net/money/topstories/view/20081114-172289/Green-products-pull-Chemrez-profit-up

STRONG demand for "green" products enabled listed firm Chemrez Technologies Inc. to post a 1.6-percent unaudited net income increase to P359.4 million in the first nine months of the year, from P353.7 million a year ago.

Chemrez registered a 29.5-percent revenue hike in the first nine months, from P2.74 billion to P3.55 billion, due mainly to higher sales posted by its oleochemicals group, as well as the expanding share of its "green chemistry" products to total sales.

According to ChemrezTech, "green chemistry" products use raw materials that are renewable in nature, resulting in products that are environment-friendly and low in toxicity.

The bulk of the company's revenue came from the local market, driven mainly by strong coco-biodiesel sales.

The company said that by the end of the year, it should already be supplying 65 percent of the country's biodiesel requirements, up from its current 55-percent market share.

ChemrezTech also remained the country's leading supplier of key ingredients for the soap and detergent industry.

Abigail L. Ho