Hainann Rubber annouces loss in typhoon Rammasun
Hainan Rubber (SH:601118) announced on 23 July that the company has over 600,000 units of rubber trees ruined in typhoon Rammasun over last weeken.
Some of the company's branches in Hainan Island have stoped cuttting natural rubber for 4 days, which is predicted to loss over 10,000 tons of rubber in 2014, the company said in the announcement.
Thanks to the insurance signed with PICC Property and Casualty Company Limited, Hainan Rubber world probably get over RMB150 million of compensation from PICC.
In April 2014, Hainan Rubber has ever recieved 154.12 million yuan of compensation from PICC, because of the suffer in Supertyphoon Haiyan in November 2013, which created the largest calamity accident compensation in China's agriculture industry.
(Edited by Amanda, mol@tireworld.com.cn)
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