Tuesday, June 03, 2008

Sichuan Hongda Reduces Estimate for Losses From Quake Damage

Sichuan Hongda Chemical Industry Co., China's third-largest zinc producer, reduced by more than half the estimate for losses caused by the nation's May 12 earthquake to 160.2 million yuan ($23 million).

Sichuan Hongda cut the estimate from a May 20 figure of 387.7 million yuan after restoring buildings and repairing equipment, the company said in a Shanghai Stock Exchange filing, without saying when production will resume.

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