Orient Paper, Inc. Appoints DLA Piper as Legal Counsel
BAODING, Hebei, China, Jan. 3, 2013
BAODING, Hebei, China, Jan.3, 2013 /PRNewswire/ --Orient Paper, Inc. (NYSE
MKT: ONP) ("Orient Paper" or the "Company"), 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created by government-mandated closure of outdated and polluting paper mills.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.
About Orient Paper, Inc.
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.
Founded in 1996, ONP has been listed on the NYSE MKT Board since December
2009. (Please visit http://www.orientpaperinc.com.)
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact in this
announcement are forward-looking statements, including but not limited to,
anticipated revenues from the digital photo paper business segment; the
actions and initiatives of current and potential competitors; the Company's
ability to introduce new products; the Company's ability to implement the
planned capacity expansion of corrugate medium paper; market acceptance of new
products; general economic and business conditions; the ability to attract or
retain qualified senior management personnel and research and development
staff; and other risks detailed in the Company's filings with the Securities
and Exchange Commission. These forward-looking statements involve known and
unknown risks and uncertainties and are based on current expectations,
assumptions, estimates and projections about the companies and the industry.
The Company undertakes no obligation to update forward-looking statements to
reflect subsequent occurring events or circumstances, or to changes in its
expectations, except as may be required by law. Although the Company believes
that the expectations expressed in these forward looking statements are
reasonable, it cannot assure you that its expectations will turn out to be
correct, and investors are cautioned that actual results may differ materially
from the anticipated results.
SOURCE Orient Paper, Inc.
Contact: Investor and Media Contacts: Orient Paper, Inc., +1-562-818-3817,
firstname.lastname@example.org; Fleishman-Hillard, +852-2530-0228,
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