Orient Paper Expands Anticounterfeiting Paper Production
New York, New York, USA, and Hebei, China, 04 June 2008 --(BUSINESS WIRE)--Orient Paper Inc. (OTCBB: OPAI - News), 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 anticounterfeit production line and expects to complete this transformation within the next several months. The company expects to produce a minimum of 10,000 tons annually in the first year.
Anticounterfeit paper, using advanced technology to insert security lines, which are gold or plastic lines, will become one of the company's major products. Various anticounterfeit 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.
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 USD 40 million in revenues for our company and USD 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."