Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Iofina reveals strong start to 2024 with increased iodine production By: TheNewswire.com April 18, 2024 at 08:38 AM EDT Iofina PLC (AIM:IOF, OTC:IOFNF) CEO Dr Tom Becker takes Proactive's Stephen Gunnion through the company's first-quarter operating performance, which included a 15.5% year-over-year increase in production to 123.7 metric tonnes of crystalline iodine.This growth is attributed largely to the addition of the IO#9 plant, which commenced operations in the latter half of the previous year. Iofina operates six plants that extract iodine from brine water co-produced with oil and gas, with expectations to produce between 275 and 295 metric tonnes of iodine in the first half of the year.Becker said the company has maintained strong demand for its iodine products, holding steady prices in Huntsville through the first and entering the second quarter. He noted the company is supplying both existing and new customers, including breaking into new markets, particularly in Europe. Notably, sales of biocide derivatives used in paints and coatings have been successful.Looking ahead, Becker said Iofina is on track with the construction of IO#10, slated for the third quarter, which will further boost production. The company is also exploring potential sites for IO#11 and other future iodine extraction plants across the United States. Moreover, Iofina has renegotiated a brine supply contract, ensuring stable supply at market rates, which is expected to impact profits slightly this year but is seen as beneficial for long-term growth.Contact DetailsProactive UK Ltd+44 20 7989 0813uk@proactiveinvestors.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Iofina reveals strong start to 2024 with increased iodine production By: TheNewswire.com April 18, 2024 at 08:38 AM EDT Iofina PLC (AIM:IOF, OTC:IOFNF) CEO Dr Tom Becker takes Proactive's Stephen Gunnion through the company's first-quarter operating performance, which included a 15.5% year-over-year increase in production to 123.7 metric tonnes of crystalline iodine.This growth is attributed largely to the addition of the IO#9 plant, which commenced operations in the latter half of the previous year. Iofina operates six plants that extract iodine from brine water co-produced with oil and gas, with expectations to produce between 275 and 295 metric tonnes of iodine in the first half of the year.Becker said the company has maintained strong demand for its iodine products, holding steady prices in Huntsville through the first and entering the second quarter. He noted the company is supplying both existing and new customers, including breaking into new markets, particularly in Europe. Notably, sales of biocide derivatives used in paints and coatings have been successful.Looking ahead, Becker said Iofina is on track with the construction of IO#10, slated for the third quarter, which will further boost production. The company is also exploring potential sites for IO#11 and other future iodine extraction plants across the United States. Moreover, Iofina has renegotiated a brine supply contract, ensuring stable supply at market rates, which is expected to impact profits slightly this year but is seen as beneficial for long-term growth.Contact DetailsProactive UK Ltd+44 20 7989 0813uk@proactiveinvestors.com
Iofina PLC (AIM:IOF, OTC:IOFNF) CEO Dr Tom Becker takes Proactive's Stephen Gunnion through the company's first-quarter operating performance, which included a 15.5% year-over-year increase in production to 123.7 metric tonnes of crystalline iodine.This growth is attributed largely to the addition of the IO#9 plant, which commenced operations in the latter half of the previous year. Iofina operates six plants that extract iodine from brine water co-produced with oil and gas, with expectations to produce between 275 and 295 metric tonnes of iodine in the first half of the year.Becker said the company has maintained strong demand for its iodine products, holding steady prices in Huntsville through the first and entering the second quarter. He noted the company is supplying both existing and new customers, including breaking into new markets, particularly in Europe. Notably, sales of biocide derivatives used in paints and coatings have been successful.Looking ahead, Becker said Iofina is on track with the construction of IO#10, slated for the third quarter, which will further boost production. The company is also exploring potential sites for IO#11 and other future iodine extraction plants across the United States. Moreover, Iofina has renegotiated a brine supply contract, ensuring stable supply at market rates, which is expected to impact profits slightly this year but is seen as beneficial for long-term growth.Contact DetailsProactive UK Ltd+44 20 7989 0813uk@proactiveinvestors.com