Orient Paper Starts Production of Digital Photo Paper
March 16, 2010 - Orient Paper, Inc. today announced that its digital photo paper production line started production on March 10.
On Nov. 25, 2009, the company acquire all of the assets of Hebei Shuangxing Paper Co., Ltd., including two coating production lines of digital photo paper, for RMB 93 million (approx. US$13.6 million).
Since the closing of the asset acquisition, Orient Paper has been renovating the digital photo paper production line and began production trials in early-March
The company said that it has already received orders from several customers.
"We are pleased to announce the commencement of production of our digital photo paper product line as per schedule," said Mr. Zhenyong Liu, chairman and CEO. "The positive feedback received from our customers provides us a great deal of confidence and reflects favorable market acceptance.
"The production of digital photo paper is in line with our strategy to focus on high-margin products and increasing the company's profitability going forward. We are very optimistic about the growth potential of the digital photo paper segment and believe it will be a strong revenue contributor in 2010," Liu said.
SOURCE: Orient Paper, Inc.