WPRO.ob (Wood Products Inc) May very well become China Industrial Corporation very soon. (possible ticker = CHIC.ob) The Company's Management and Counsel was informed of the final review and approval of the Working Report on the Assignment of State-owned Shareholdings of Shijiazhuang Dongfang http://www.dongfang.com.cn/html/performance.html Thermoelectric Group Company, Ltd., as presented by CITIC Securities Co., Ltd. to the State-owned Assets Supervision and Administration Commission of Shijiazhuang Municipal Government, on December 15, 2004. Company Management and Counsel approved the terms of the Final Agreement on Dec 23, 2004. The Shijiazhuang Mayors' Committee, consisting of the Mayor and the three Vice-Mayors approved and signed the Agreement on December 30, 2004 Jan 12, 2005 = http://biz.yahoo.com/prnews/050112/to127_1.html Jan 13, 2005 = http://biz.yahoo.com/prnews/050113/to146_1.html About Shijiazhuang China:
Shijiazhuang, the capital of Hebei http://www.travelchinaguide.com/cityguides/hebei/shijiazhuang/ , is a commercial, transport, and industrial centre situated about 300 km southwest of Beijing. Its industries produce textiles, chemicals, processed food, fertilizer, machinery, and agricultural equipment. Coal is mined nearby.
Founded before the 3rd century BC, Shijiazhuang was a small settlement dominated by nearby Zhengding until it was developed as a railway centre in 1905. Modern industrialisation, begun in the 1930s, accelerated with the construction of modern textile and chemical plants in the 1950s and 1960s.
Shijiazhuang New- and Hi-Tech Development Zone（石家莊高新技術產業開發區）
Approved by the State Council as a state-level new hi-tech development zone. Industries in the zone include electronic information, biochemical, new materials such as glass fiber reinforced plastic. The zone also encourages investment in the fields of telecommunications, microelectronics, bio-chemicals and new materials, industrial projects with high added value.
In April 2004, the Company forward split its common stock on a ten for one basis to where the current shares outstanding reside at just 33,750,000 shares total.
Excerpt 10-QSB {On July 21, 2004, the Board of Directors approved in principle the acquisition of 100% of the outstanding shares of Harper & Harper, Ltd. The sole asset of Harper & Harper, Ltd. consists of its interest in a contract to purchase a fully-funded 28% interest in Shijiazhaung Dongfang Thermoelectric Group Company Limited ("Dongfang").The Dongfang - Harper & Harper, Ltd. project was listed as Number 90 on the PricewaterhouseCoopers "Power Deals 2003 Annual Review - Mergers and acquisitions activity within the global electricity and gas market" Dongfang has numerous interests in mainland China, including but not limited to: a controlling interest in four urban power plants; a controlling interest in two small, rural electric power plants; a minority interest in three coal mines; a 45% interest in a 15,000 ton per day cement manufacturing plant and a controlling interest in a building materials company. The Company and Harper & Harper, Ltd. have executed a formal written agreement with the closing scheduled to coincide with the execution of the Share Transfer Agreement between the City of Shijuazhuang and Harper & Harper, Ltd. While management has no reason to believe that the transaction will not be completed, until and unless the Share Transfer Agreement is executed, management can provide no assurances that this undertaking will be completed.
On August 26, 2004 Harper & Harper assigned its 5% investment interest in Zhong Huan Water Treatment Construction Co., Ltd. ("Zhong Huan"), a waste water treatment plant construction and management company based in Beijing, China. Chris Harper, Director, President, CEO and Chairman of Wood Products, has also assumed a seat on Zhong Huan's Board of Directors. .Zhong Huan is a joint venture between Harper & Harper Ltd., China Environmental Protection Co. Ltd., Shanghai Infrastructure Construction Holding Ltd., Wuhan Honglin Group Ltd., and Chemical Research Institute No. 2. Zhong Huan undertakes urban and industrial water supply and waste water treatment and drainage projects. It has strong experience in plant planning, design, construction, operational management and financing for municipal waste treatment projects. The Company develops and utilizes technologies that provide environment-friendly solutions for water and waste management. The acquisition represents an opportunity to participate in a high growth sector of China's industrial and urban infrastructure. China has a population of 1.2 billion people that produces almost four billion tons of sewage daily. This, coupled with the country's increasingly industrialized state, makes the need for clean water and proper waste management even more critical today. Zhong Huan recently began work on the Wuxi City Binhu Waste Water Treatment Factory Project and is actively bidding for other projects in the Yangtze River Delta and Pearl River Delta areas, as well as in Beijing, Tianjin, Shanghai and Hainan.
On September 9, 2004 to the Company's Board of Directors approved the acquisition of a 15% investment interest in North Space Steel Structure Co., Ltd. ("North Space"). North Space is a leading steel fabrication company founded in Beijing, China in 1996. The company fabricates heavy steel construction products, such as girders, tanks and bridge steel, and light steel buildings. The company provides planning, design and building services as well as a national distribution system for delivery of their products. North Space's fabrication facilities have current integrated production capacity to generate 50,000 tons of steel and grid structures and 3,000,000 square meters of anodized and colored light steel panels. North Space boasts an international standard, modern manufacturing base with advanced digital control cutting and automatic welding processing line that is ISO 9001 certified. The company has major projects across China, including the State Planning Commission office building, the First City Under the Sun of Zhongxin Guoan, Anshan Beer Co., Ltd., National Cow Gene Embryo Center, Shanxi Nanfeng Chemical Group, and Guangdong Zhanjiang Sugar Co. Ltd. In 2003, North Space's sales exceeded 160 million RMB (20 million USD). The company expects revenues of 200 million RMB (25 million USD) for 2004[b/] Management is formalizing the details of the transaction and preparing final acquisition and management contracts. While management has no reason to believe that the transaction will not be completed, until and unless a formal agreement is executed, management can provide no assurances that this undertaking will be completed.} Check news - http://finance.yahoo.com/q?d=v1&s=wpro.ob
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