Gushan Environmental (GU) Soars On China Tax Break For Pure Biodiesel

Gushan Environmental (GU) received quite a gift this holiday season from the Chinese government.  It was announced on December 24th that consumption tax paid on pure biodiesel made from animal fats and vegetable oils will be removed and refunds on the tax will be retroactive as of Jan 1st 2009.  The news sent China biodiesel producer Gushan soaring yesterday and the stock is up again today.  The company indicated it is currently evaluating what financial impact it will have and how production will change.  A follow up press release is expected when the evaluation is complete.

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