Dragon to supply cigarette makers.DRAGON TO SUPPLY CIGARETTE MAKERS. Dragon International Group Corp., China, has entered into an agreement to supply printing paper for Red Gold Dragon cigarette mark paper to the Hubei Hubei or Hupeh (both: h  `bā`), province (1994 est. pop. 56,560,000), c.72,000 sq mi (186,480 sq km), central China. Jinsanxia Printing Co. (Jinsanxia). The initial order is expected to generate approximately US$ 2.2 million in revenues for Dragon. IN OTHER DRAGON NEWS: * The company will begin supplying its SBS See Small Business Server. line to the Yunan Chuxiong Chuxiong (Simplified Chinese: 楚雄市; Traditional Chinese: 楚雄市; Pinyin: Chǔxióng shì Cigarette Factory. The initial order is projected to range between US$ 200,000 and US $300,000 annually. * Dragon has signed a letter of intent to acquire a 60% ownership interest of Hangzhou Hangzhou (hang`jō`) or Hangchow (hăng`chou), city (1994 est. pop. 1,184,300), capital of Zhejiang prov., E China. Yongxin Paper Co. Ltd., Hangzhou, Zhejiang Zhejiang (jŭ`jyäng`) or Chekiang (chĕ`kyăng`), province (1994 pop. 43,410,000), c.40,000 sq mi (103,600 sq km), SE China, on the East China Sea. The capital is Hangzhou. Province, China. The acquisition should increase current production of packaging materials from approximately US$ 8 million to US$ 15 million. * Dragon plans to consolidate Yongxin's operations with its own subsidiary in Ningbo. Following the consolidation, the transaction should contribute approximately 7% to 8% in net profit margin to Dragon. * Dragon has signed a letter of intent to acquire Xianyang Naite Research & Development Center, Ningbo, China, which was created to improve production efficiencies in the specialty packaging industry. |
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