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September 02, 2015 12:11 PM ET

Chemicals

Company Overview of China RuiTai International Holdings Co., Ltd.

Company Overview

China RuiTai International Holdings Co., Ltd., through its subsidiary, Pacific Capital Group, engages in the production, sale, and export of deeply processed chemicals, primarily non-ionic cellulose ether products, in the People's Republic of China. It offers hydroxypropyl methyl cellulose, methyl cellulose, ethyl cellulose aqueous dispersion, ethyl cellulose, hydroxyethyl cellulose, CMC, microcrystalline cellulose, HEMC, hypromellose phthalate, hydroxypropyl cellulose, and film coating pre-mixed reagents. The company’s cellulose ether products are used as stabilizers and thickeners in latex paints; in mortar dry mix for building materials; to enhance the performance of resins in PVC product...

Wenyang Town

Feicheng City,  271603

China

Founded in 1999

530 Employees

Phone:

86 53 8385 0703

Fax:

86 53 8385 0247

Key Executives for China RuiTai International Holdings Co., Ltd.

Chairman, Chief Executive Officer and Secretary
Age: 49
President and Director
Age: 63
Chief Financial Officer and Principal Accounting Officer
Age: 42
Compensation as of Fiscal Year 2015.

China RuiTai International Holdings Co., Ltd. Key Developments

SEC Revokes Registration Of Registered Securities Of China Ruitai International Holdings

An Administrative Law Judge has issued an Initial Decision of Default (ID) in the matter of China Ruitai International Holdings Co. The Order Instituting Administrative Proceedings alleged that the company repeatedly failed to file timely periodic reports while its securities were registered with the Securities and Exchange Commission (SEC or The Commission) and further failed to report its auditor's resignation on Form 8-K. The ID finds these allegations to be true and revokes the registration of each class of the company's registered securities, pursuant to Section 12(j) of the Securities Exchange Act of 1934.

SEC Orders Registration Revocation Hearing Related to China Ruitai International Holdings

The Commission announced the issuance of an order instituting proceedings pursuant to Section 12(j) of the Securities Exchange Act of 1934, making findings, and revoking registration of securities (registration revocation order) against China Ruitai International Holdings Co., Ltd. The Division of Enforcement alleges that China Ruitai committed fraud, books and records, and reporting violations. China Ruitai engaged in a scheme to obtain approximately $40 million in bank financing using falsified purchase orders and invoices from related parties. During 2011, China Ruitai filed Forms 10-Q and a Form 10-Q/A that misrepresented the transactions as obligations to a related party entity, although CRUI's obligations were directly with the banks providing the financing. CRUI's auditor discovered the fraudulent transactions and confronted CRUI's officers. CRUI failed to respond or take remedial action, so its auditor resigned. CRUI cut off contact with its auditor and failed to notify the Commission of the auditor's actions. CRUI is delinquent in all periodic filings since that time. A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the Registration Revocation Order are true, to provide the Respondents an opportunity to dispute the allegations and to determine what, if any, remedial action is appropriate and in the public interest, pursuant to Rule 360(a)(2) of the Commission's Rule of Practice. The Registration Revocation Order requires the Administrative Law Judge to issue initial decisions no later than 120 days from the date of service of the order.

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