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Fuwei Films Announces Revised Agreement to Advance Delivery of New BOPET Production Line by Three Months
BEIJING, Aug. 1, 2011 /PRNewswire-Asia-FirstCall/ -- Fuwei Films (Holdings) Co., Ltd. (Nasdaq:FFHL - News) ("Fuwei Films" or the "Company"), a manufacturer and distributor of high-quality BOPET plastic films in China, today announced that on July 22, 2012, its subsidiary, Fuwei Films (Shandong) Co., Ltd. ("Shandong Fuwei") entered into a Supplementary Agreement to the contract entered into on March 30, 2011 with Lindauer Dornier GmbH ("Lindauer Dornier GmbH"), a German equipment supplier, pursuant to which, among other things, both parties agreed to change the scheduled delivery to between March 10, 2012 to April 21, 2012, three months earlier than the original agreement.
As previously disclosed, the original contract between Shandong Fuwei and Lindauer Dornier GmbH to purchase equipment for the Company's thick film BOPET production line was entered into on January 20, 2007, as amended on February 2, 2007. However, as a result of Shandong Fuwei's inability to pay the balance of the purchase price, the contract was cancelled and the construction of the production line was suspended. After negotiation and discussion with Lindauer Dornier GmbH, on March 30, 2011, Shandong Fuwei entered into this contract with Lindauer Dornier GmbH to purchase equipment for its thick film BOPET production line in Weifang City, Shandong Province, China. The originally scheduled delivery period was between June 2 to July 14, 2012.
Additionally, in accordance with the recent meeting attended by the engineers from both parties to discuss latest products and technology developments in Lindau, Germany, this Supplementary Agreement includes some targeted adjustments regarding technical specifications and device configuration. Accordingly, the total price of this production line has been increased by EUR 400,000 to EUR 16.85 million.
"We are pleased to be able to receive the new BOPET production line three months in advance of its originally scheduled delivery time, which should allow us to be confident that we could complete all necessary installation and testing procedures regarding the project and enable it to be put into operation by the end of next year," said Mr Xiaoan He, Chairman and CEO of Fuwei Films.
http://finance.yahoo.com/news/Fuwei-Fil ... l?x=0&.v=1
Fuwei Films Signs Supply Letter of Intent with Coca-Cola
Time：2011-7-6 15:37:18 Source： BEIJING, July 6, 2011 /PRNewswire-Asia-FirstCall/ -- Fuwei Films (Holdings) Co., Ltd.
(FFHL) ("Fuwei Films" or the "Company"), a manufacturer and distributor of high-quality BOPET plastic films in China, today announced that its wholly-owned subsidiary, Fuwei Films (Shandong) Co., Ltd. ("Shandong Fuwei") signed a letter of intent on PETG heat shrinkable label film supply for the second half of this year with China Bottlers Procurement Consortium ("CBPC"), the authorized procurement service provider for the Coca-Cola Bottling system in China, on June 30, 2011.
As the leading beverage supplier in the world, Coca-Cola plans to take the lead in replacing PVC non-carbonated beverages labels with PETG films in China starting in the second half of this year, in order to be environmentally-friendly.
PETG is an improved BOPET material, which is widely used in the international label industry due to its environmentally friendly nature. Shandong Fuwei developed its propriety PETG heat shrinkable label films through years of independent R&D. This product not only fills the gap in China but also is widely recognized and approved by many internationally renowned suppliers, such as Coca-Cola. The patent application for this product filed by Shandong Fuwei has been accepted. According to the letter of intent, Shandong Fuwei, as the exclusive local supplier of Coca-Cola in China, will supply PETG heat shrinkable label films to designated label suppliers within the Coca-Cola bottling system. Once the letter of intent is fully implemented, it is estimated that the sales of heat shrinkable label films to be supplied to Coca-Cola may account for 8 to10 percent of Fuwei's total sales in the second half of 2011.
"We are pleased to sign this letter of intent with the authorized procurement service provider of Coca-Cola," said Mr. Xiaoan He, Chairman and CEO of Fuwei Films. "We look forward to further cooperation with Coca-Cola and other internationally renowned beverage companies. The Company will continue to be committed to strengthening R&D, and to implementing the products differentiation strategy in order to maintain our competitive advantage in the market."
http://www.fuweiholdings.com/cn/newsinf ... 230&ID=274
Fuwei Films announces receipt of three PRC utility patents
On Monday September 12, 2011
Fuwei Films announced that its wholly-owned subsidiary, Fuwei Films Shandong Co., Ltd. has recently received three utility patents in August 2011 from the Ministry of State Intellectual Property Office of PRC. These utility patents relate to anti-condensation automotive window film, oligomer-proof automotive window PET base film and anti-flaming matte film for architectural heat insulation.
http://finance.yahoo.com/news/Fuwei-Fil ... l?x=0&.v=1
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