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Orient Paper Expects to Produce $40M
in Revenues from Conversion to Anti-Counterfeit Paper Production
Line
June 06, 2008
Orient Paper Inc. (OTCBB:OPAI ) (the
"Company"), a large paper milling manufacturer announced recently
that its wholly-owned subsidiary, Hebei Baoding Orient Paper Milling
Co, Ltd, has started to transform the current anti-counterfeit
production line, planning to complete this transformation within the
next several months. The market price of this paper is approximately
$2,000 to $4,500 per ton and the Company expects to produce a
minimum of 10,000 tons annually in the first year.
Anti-counterfeit paper, using advanced technology to insert security
lines, which are gold or plastic lines, will become one of the
Company´s major products. Various anti-counterfeit patterned papers
are produced by putting colored fiber into white pulp to create
visibly patterned, shaded paper. This paper is used widely in
printing various valuable securities.
Mr. Zhenyong Liu, CEO of Orient Paper stated, "Once the
transformation of the production line has been accomplished, we
expect to be able to produce 10,000 tons or more within the first
year of production. This equates to approximately $40 million in
revenues for our Company and $6 million in net profits.
Simultaneously, we will be upgrading our products, and entering the
high-grade paper industry which will open up additional revenue
streams to the Company in the future. This will lay a solid
foundation for the Company to have sustainable growth in the future
and provide enhanced returns to our shareholders."
About Orient Paper
Orient Paper Inc. is a rapidly developing paper company in China.
The company is engaged in the manufacture and distribution of paper
in China. Today, the company serves over 140 packaging producers and
printing companies with a diversified product offering that includes
corrugated paper, high-grade offset paper, mid-grade offset paper
and writing paper from eight manufacturing facilities in northeast
China.
For more information, please visit:
www.orientalpapercorporation.com.
Forward-Looking Statements
With the exception of historical information, the matters discussed
in this press release and on our website referenced herein include
forward-looking statements that involve a number of risks and
uncertainties about Orient Paper and its subsidiaries and their
respective businesses and products within the meaning of Rule 175
under the Securities Act of 1933 and Rule 3b-6 under the Securities
Exchange Act of 1934, and are subject to the safe harbor created by
those rules. The actual results may differ materially depending on a
number of risk factors including, but not limited to, the general
economic and business conditions in the People´s Republic of China,
future product development and production capabilities, shipments to
end customers, market acceptance of new and existing products,
additional competition from existing and new competitors, changes in
technology, and various other factors beyond its control. In some
cases, you can identify forward-looking statements by use of words
such as "may," "will," "should," "expect," "plan," "anticipate,"
"believe," "estimate," "predict," "potential" or "continue," the
negative of such terms, or other similar words. Although we believe
that the expectations reflected in the forward-looking statements
are reasonable, such statements should not be regarded as a
representation by the Company, or any other person, that such
forward-looking statements will be achieved. We undertake no duty to
update any of the forward-looking statements, whether as a result of
new information, future events or otherwise. In light of the
foregoing, readers are cautioned not to place undue reliance on such
forward-looking statements. All forward-looking statements are
expressly qualified in their entirety by this Cautionary Statement
and the risks factors detailed in the Company´s reports filed with
the Securities and Exchange Commission. Orient Paper undertakes no
duty to revise or update any forward-looking statements to reflect
events or circumstances after the date of this release.
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