Baoding, Hebei, China -- 14 October 2009 /PRNewswire-Asia/ -- Orient Paper, Inc. (OTC Bulletin Board: OPAI
), which controls and operates Hebei Baoding Orient Paper Milling Co., Ltd. (HBOP), a leading manufacturer and distributor of diversified paper products in Hebei, China, today announced that it has engaged BDO Limited, the Hong Kong member firm of the BDO International network, as its new independent auditor on 07 October 2009. BDO Limited will replace Davis Accounting Group P.C., which continues to serve as the company's auditor until Form 10-Q for the third quarter of 2009 is filed.
The decision to change the company's independent auditor was recommended, authorized and approved by Orient Paper's board of directors on 07 October 2009. The company also is committed to appointing a Big 10 accounting firm as its new independent auditor pursuant to one of the provisions of a securities purchase and sale agreement with Xushui District Dongfang Trading Limited Company and a group of securities purchasers led by Barron Partners, LP, on 25 June 2009.
Orient Paper, Inc., through its wholly owned subsidiaries, Shengde Holdings, Inc. and Baoding Shengde Paper Co., Ltd., controls and operates HBOP. Founded in 1996, HBOP is engaged in the production and distribution of products such as corrugated paper, offset paper, writing paper, and other paper and packaging-related products in China. The company uses recycled paper as its primary raw material. As one of the largest paper producers in Hebei Province, China, the company is strategically located in Baoding, a city in close proximity to Beijing where the majority of publishing houses are based. Orient Paper is led by an experienced management team committed to diversifying the company's product offering and delivering tailored services to its customers. For more information, visit http://www.orientalpapercorporation.com.