Ignite Nutra Inc (PK:GPRC)
Business Focus: Commodity Chemicals
| Sector: Basic Materials | Industry: Commodity Chemicals |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | Rong Qiao Economic Zone, Fuqing City FUZHOU FUJ 300500 |
| Tel: | N/A |
| Website: | www.guanweirecycling.com |
| IR: | See website |
| Key People | ||
| Min Chen Chairman of the Board, President, Chief Executive Officer | Feng Yang Chief Financial Officer, Treasurer, Secretary | |
| Business Overview |
| Ignite Nutra Inc, formerly Guanwei Recycling Corp (Guanwei), operates its business through its indirect wholly-owned subsidiary, Hong Kong Chenxin International Development Limited and Fuqing Guanwei Plastic Industry Co. Ltd. Guanwei imports and recycles Low-density polyethylene plastic scrap material into granular plastic for use in the manufacture of consumer products. There are seven types of plastic polymers, each with specific properties, which are used across the world various packaging applications. The plastic polymers include Polyethylene terephthalate, High-density polyethylene, Polyvinyl chloride, Low-density polyethylene, Polypropylene and Polystyrene. These polymers are used in the applications, such as Soft drink, water and salad dressing bottles; peanut butter and jam jars; retail bags; Reusable microwaveable ware; disposable take-away containers, and electronic casing, and among others. |
| Financial Overview |
| For the three months ended 31 March 2014, Ignite Nutra Inc revenues decreased 21% to $11.8M. Net income decreased 68% to $756K. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income also reflects General and administrative expenses increase of 11% to $662K (expense), Miscellaneous increase from $1K to $6K (expense). |
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