Longwei Petroleum Announces November Sales Volume Increase at Huajie Plant
Longwei Petroleum Investment Holding Ltd. (NYSE: LPH) ("Longwei" or the "Company"), an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China ("PRC"), today announced that its November 2012 product sales volume increased 23.2% month-over-month at its Huajie facility.
For the month ended November 30, 2012, Longwei reported its product sales volume at its newly acquired Huajie facility increased 23.2% month-over-month to approximately 8,990 metric tons ("mt"), compared to 7,300mt for the month ended October 31, 2012. The increase in sales volume is attributable to the increase in new customer business at the Huajie facility, which profitably contributed $9.5 million in product revenues during November.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.