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XBBC Sign A Mutual Assurance Contract With NMPIC

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Nov 02,2005
Based on the principle of friendly cooperation and development, Xibei bearing Co.,Ltd (XBBC )and Ningxia Meili Paper Industry CO.,Ltd (NMPIC) reached a three-year agreement on mutual assurance of RMB 110 million on Oct 20th ,2005. Located in Zhongwei city, Ningxia Province, Ningxia Meili Paper Industry Co.,Ltd. specialized in manufacturing, assembling and selling paper machine and selling machine-made paper and cardboard in different levels. The total assets were 2485.91 million. Total debt was 1715.84million. The net asset was 761.79million. The net profit of the first half year was 34.72 million. Any further reference can be available from the record of Xibei Bearing Co.,Ltd 4th board conference, Ningxia Meili Paper Industry CO.,Ltd artificial person’s business license and related financial forms.
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