Cathay Forest Products Corporation has signed an agreement for the establishment of a joint venture with Rao He Song Lin Economic Trade Company for the production, manufacture, sale and export of forestry raw timber and other products.<\/p>\n
Cathay Forest will own 60% and Rao He 40% of the joint venture. There will be an equity injection of US$1,500,000 into the joint venture by the parties in two phases. Cathay Forest will make an investment of US$600,000 into Rao He as initial phase operations fund, and US$300,000 invested in cash and Rao He will invest US$600,000. In addition, under the terms of the joint venture, Cathay Forest will issue 300,000 common shares to Yao Song-lin, principal of Rao He, subject to regulatory approval.<\/p>\n
The Board of the joint venture will consist of a total of 5 directors including 3 appointees of Cathay Forest. Once the joint venture has been established, Yao Song-lin will be the general manager of Rao He.<\/p>\n
After-tax profits of the joint venture company will be used and distributed in accordance with the parties' ownership interest in the joint venture, i.e., Cathay Forest 60% and Rao He 40%.<\/p>\n
Cathay Forest is a forest products company managing standing timber properties and developing fast-growth, high-yield poplar plantations in China.<\/p>\n","protected":false},"excerpt":{"rendered":"
Cathay Forest Products Corporation has signed an agreement for the establishment of a joint venture with Rao He Song Lin Economic Trade Company for the production, manufacture, sale and export of forestry raw timber and other products.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-998","post","type-post","status-publish","format-standard","hentry","category-environment"],"acf":[],"yoast_head":"\n