Graphene NanoChem completes plant expansion

18th Dec 2013 09:29

Graphene NanoChem, the AIM-listed producer of chemicals enhanced with 'super-material' graphene, said its expanded manufacturing facility in Malaysia had been commissioned and would begin production on time in February 2014. The upgrade of the Senawang facility will increase the production capacity of graphene-enhanced chemicals for the oil industry to 120,000 tonnes per year and improving efficiency both in the production and in the processing of feedstock to reduce operating costs and increase margins.Chief Executive Jespal Deol said: "This will enable us to meet the increase in demand for our products in 2014 and beyond and we look forward to start the new year with expanded capability."House broker Panmure Gordon suggested the on-time delivery was important in terms of investor sentiment even though it didn't affect forecasts."In this regard, one of the important pieces of near-term news flow for the business has now been delivered, cementing one of the key underpinning features for the group's future commercial delivery."Shares in the company were up 2% to 75p at 09:30 on Wednesday.OH