Orient Paper Announces Corporate Name and Ticker Changes
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Orient Paper Inc., Baoding, China, a manufacturer and distributor of diversified paper products in North China, this week 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 Aug.1, 2018.
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. and Hebei Baoding Orient Paper Milling Co.
Founded in 1996, Orient Paper has been listed on the NYSE MKT under the ticker symbol ONP since December 2009. For more information, visit the company’s web site.
