BAODING, China, July 19, 2018 /PRNewswire/ -- Orient Paper, Inc.
(NYSE MKT: ONP) ("Orient Paper" or the "Company"), a leading
manufacturer and distributor of diversified paper products in
North China, today announced that
on July 17, 2018, its Board of
Directors approved to change its corporate name to IT Tech
Packaging, Inc.
The name change is expected to be accomplished through a
short-form merger pursuant to Section 92A.180 of the Nevada
Revised Statutes. A subsidiary formed solely for the purpose of
the name change will be merged with and into the Company, with the
Company remaining as the surviving corporation in the merger. The
merger will have the effect of amending the Company's Articles of
Incorporation for the sole purpose of reflecting the Company's new
legal name. In accordance with Section 92A.180 of the
Nevada Revised Statutes, stockholder approval of the merger
is not required.
The Company has applied to the NYSE MKT to change its ticker
symbol from "ONP" to "ITP", to take effect following the
effectiveness of the name change. The Company's common stock will
then trade under a new CUSIP number. Trading under the new name, symbol and CUSIP is
expected to begin on August 1,
2018.
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 (with the exception of
its digital photo paper and tissue paper products), Orient Paper
produces and distributes three categories of paper products:
corrugating medium paper, offset printing paper and tissue paper
products.
With production based in Baoding and Xingtai 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., and Hebei
Baoding Orient Paper Milling Co., Ltd.
Founded in 1996, Orient Paper has been listed on the NYSE MKT
under the ticker symbol "ONP" since December
2009. (For more information, please
visit http://www.orientpaperinc.com)
Safe Harbor Statements
This press release may contain forward-looking statements.
These forward-looking statements involve inherent risks and
uncertainties that could cause actual results to differ materially
from those projected or anticipated, including risks outlined in
the Company's public filings with the Securities and Exchange
Commission, including the Company's latest annual report on Form
10-K. All information provided in this press release speaks as of
the date hereof. Except as otherwise required by law, the Company
undertakes no obligation to update or revise its forward-looking
statements.
For more information, please contact:
Company Contact:
Orient Paper, Inc.
Email: ir@orientpaperinc.com
Investor Relations:
Tony
Tian,
CFA
Weitian Group LLC
Email: ttian@weitianco.com
Phone: +1-732-910-9692
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SOURCE Orient Paper, Inc.