Orient Paper Names DLA Piper as Legal Counsel
Jan. 3, 2013 (Press Release) - Orient Paper, Inc., a leading manufacturer and distributor of diversified paper products in northern China, today announced the Company has appointed DLA Piper LLP as its legal counsel, replacing Sichenzia Ross Friedman Ference LLP ("Sichenzia Ross"), effective as of January 1, 2013.
"Sichenzia Ross has served us well in the past four years, and we would like to thank them for their services and valuable contribution to the Company," said Mr. Zhenyong Liu, Chairman and Chief Executive Officer of Orient Paper.
"As Orient Paper looks to expand and develop further as a Chinese business and US-listed corporation, we believe a truly global law firm like DLA Piper is a good partner who can understand and address our needs in the U.S. and Asia, and provide the Company with pragmatic and solution-oriented advice, while further strengthening our corporate governance."
"We believe in the future prospects of the paper business in North China, spurred by the increasing urbanization of the region, and opportunities created by government-mandated closure of outdated and polluting paper mills. The Board and Management are committed to executing our business strategy as well as transforming Orient Paper organizationally to manage our future growth effectively, to improve our stock valuation and achieve long term shareholder value," added Mr Liu.
Orient Paper, Inc. ("Orient Paper") is a leading paper manufacturer in North China. Using recycled paper as its primary raw material, Orient Paper produces and distributes three types of paper products namely, packaging paper (corrugating medium paper), offset printing paper, and other paper products, including digital photo paper and the household/tissue paper that the company is currently expanding into.
With production operations based in Baoding in North China's Hebei Province, Orient Paper is located strategically close to the Beijing and Tianjin region, home to a growing base of industrial and manufacturing activities and one of the largest markets for paper products consumption in the country.
Orient Paper's production facilities are controlled and operated by its wholly owned subsidiary Shengde Holdings, Inc., which in turn controls and operates Baoding Shengde Paper Co., Ltd. ("Orient Paper Shengde"), and Hebei Baoding Orient Paper Milling Co., Ltd ("Orient Paper HB") for manufacturing digital photo, printing and packaging paper.
SOURCE: Orient Paper, Inc.