rongsheng north america inc in stock

Rongsheng Machinery Manufacture Ltd of Huabei Oilfield, Hebei, which was founded in 1976, has now been an internationally famous comprehensive petroleum machinery manufacturer, and has grown to be the largest manufacturer and dealer of land-use BOPs.

The company products include BOPs, BOP control system, choke and kill manifolds, snubbing equipment, mud pump, wellhead equipment and Christmas tree, pumping units, tubing and drill pipe joint, etc, which have all passed certification by American Petroleum Institute (API). Four categories out of these products, namely BOPs, BOP control system, choke and kill manifolds and mud pumps, have passed certification of GOST and RTN in Russia.

NOTE: Rongsheng North America, Inc. is the only legal subsidiary of Rongsheng Machinery Manufacture Ltd. in the United States which is authorized to sell "HRSB" brand products including BOP"s, Mud Pumps and Well Heads.

Rongsheng Petro Chemical Co, Ltd. specialises in the production and marketing of petrochemical and chemical fibres. Products include PTA yarns, fully drawn polyester yarns (FDY), pre-oriented polyester yarns (POY), polyester textured drawn yarns (DTY), polyester filaments and polyethylene terephthalate (PET) slivers.

Rongsheng North America, Inc. provides complete package services of well control equipment and is the largest land BOP manufacturer in the world. Their well control products show excellent site performance, ensuring safety of well control.

HONG KONG (Reuters) - Shares in China Rongsheng Heavy Industries Group Holdings Ltdtumbled 16 percent on Monday after the U.S. securities regulator accused a company controlled by the shipbuilder"s chairman of insider trading ahead of China"s CNOOC Ltd"sbid for Canadian oil company Nexen Inc.Labourers work at a Rongsheng Heavy Industries shipyard in Nantong, Jiangsu province May 21, 2012. REUTERS/Aly Song

The U.S. Securities and Exchange Commission filed a complaint in a U.S. court on Friday against a company controlled by Rongsheng Chairman Zhang Zhirong, and other traders, accusing them of making more than $13 million (8.2 million pounds) from insider trading ahead of CNOOC’s $15.1 billion bid for Nexen.

“The news around the chairman comes on the back of other operational and credibility issues,” Barclays said in a note to clients. “We think China Rongsheng presents significant company-specific risk.”

In a filing with the Hong Kong stock exchange, Rongsheng - which entered a strategic cooperation agreement with CNOOC in 2010 - said it did not expect the U.S. investigation to affect its operations. It said Zhang did not have an executive role in the company.

Rongsheng, controlled by Zhang, also issued a profit warning on Monday, saying first-half earnings would fall sharply as a result of the shipbuilding downturn.

“Since weak earnings had been expected and the stock had already come down quite a bit, the early selling was mainly triggered by the insider trading probe,” said Steven Leung, a director at UOB Kay Hian.

Zhang was ranked the 22th richest Chinese person by Forbes Magazine in September 2011. But his net worth fell by more than half in the past year to $2.6 billion in March 2012 as shares of Rongsheng tumbled.

The unnamed Singapore traders used accounts in the names of Phillip Securities and Citibank C.N, while Well Advantage made its trades through accounts held at UBS Securities and Citigroup Global Markets. Neither of the Well Advantage accounts had traded Nexen shares since January 2012, and the Citigroup account had been completely dormant for over six months, the SEC says.

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New Jersey, United States:A new business intelligence report released by Infinity Business Insights with title Global Refinery-Chemicals IntegrationMarket research report provides a thorough examination of the industry. This research provides an analytical representation of the sector, as well as current trends and future projections, in order to identify likely investment opportunities. The study includes information on the major market drivers, inhibitors, opportunities, and challenges. The study provides an in-depth examination of the market"s major segments, trends, drivers, constraints, competitive environment, and other critical elements.

Major Key Players in theRefinery-Chemicals IntegrationMarket : Hengli Petrochemical Co, Hengyi Petrochemical Co., Rongsheng, Sinopec, Dongfang Shenghong

We provide statistic information, strategic and analysis tool results to provide a sophisticated landscape and target key market players. This will help the company to increase its efficiency.

The shipbuilder, China’s biggest outside state control, surged as much as 22 percent, the most since it listed in November 2010. The company was up 14 percent at HK$1.58 as of 1:57 p.m. There were 19 trades of 1 million shares or more, according to data compiled by Bloomberg.

The tender-barge order marks a breakthrough for Shanghai- based Rongsheng as it’s the company’s first in the offshore engineering sector, according to Barclays Plc. The shipbuilder has also hired Don Lee, a former Sembcorp Marine Ltd. executive, and formed a dedicated offshore unit in Singapore as it seeks orders from energy companies to offset waning demand for dry bulk ships.

Lee has worked in the industry for 40 years, and was previously senior general manager at Sembcorp Marine’s Jurong Shipyard, Rongsheng said in a statement yesterday. Singapore-based Sembcorp is the world’s second-biggest oil-rig maker after Keppel Corp.

Rongsheng won the tender-barge order from a Norwegian customer, it said without elaboration. The unit will have a maximum working depth of 2,000 meters and a drilling depth of 6,000 meters, according to the statement.

The company’s first-half net income fell 82 percent to 215.8 million yuan ($35 million) as a global glut of commodity ships depressed orders and prices.

A company controlled by Rongsheng Chairman Zhang Zhi Rong, Wells Advantage Ltd., also last week agreed to pay $14 million to resolve U.S. regulatory claims that it profited from illegal trades before Cnooc Ltd. announced plans to buy Nexen Inc.