China Shengda Packaging Group Inc fka CPGI

[Stingray]

http://finance.yahoo.com/news/China-Shengda-Packaging-Group-prnews-2711840315.html?x=0&.v=1

HANGZHOU, China, April 28, 2011 /PRNewswire-Asia-FirstCall/ -- China Shengda Packaging Group Inc. (NASDAQ:CPGI - News) ("China Shengda Packaging" or the "Company"), a leading Chinese paper packaging manufacturer, today announced that on April 28, 2011, the Company engaged Marcum Bernstein & Pinchuk LLP ("MarcumBP") as its independent registered public accounting firm.

As the Company previously disclosed in its 8-K filing dated April 22, 2011, its former independent registered public accounting firm, Bernstein & Pinchuk LLP ("B&P"), entered into a joint venture agreement with Marcum LLP and formed MarcumBP in a transaction pursuant to which B&P merged its China operations into MarcumBP and certain of the professional staff of B&P joined MarcumBP as employees of MarcumBP (the "Merger"). Accordingly, and solely as a result of the Merger, B&P effectively resigned as the Company's independent registered public accounting firm on April 18, 2011, and MarcumBP became the Company's independent registered public accounting firm on April 28, 2011. The engagement of MarcumBP was approved by the Company's Board of Directors on April 28, 2011.

"We are pleased to announce the engagement of Marcum Bernstein & Pinchuk, one of the leading PCAOB-registered audit firms with significant, on-the-ground resources in China," stated Mr. Daliang Teng, Chief Executive Officer of China Shengda Packaging. "Marcum is one of the largest independent public accounting and advisory services firms in the United States and Bernstein & Pinchuk is one of the largest middle-market, PCAOB-registered auditors in China. As a result of the merger, we will now have access to the capabilities and credibility that Marcum's leading SEC practice brings plus a great depth of localized SEC expertise, integrity and resources through more than 75 highly qualified, U.S. GAAP and SEC trained professionals in China."

B&P's reports on the Company's consolidated financial statements for the years ended December 31, 2009 and 2010, did not contain any adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles. Since B&P's engagement as the Company's independent registered public accounting firm on May24, 2010, through April 18, 2011, the date of B&P's resignation, there have been no disagreements on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of B&P, would have caused B&P to make reference thereto in connection with its reports on the financial statements for such periods.