CHCL: China Kevlar News
Tuesday April 4, 9:08 am Eastern Time
Company Press Release
SOURCE: China Continental, Inc.
China Continental Obtains Sole Manufacturing License
to Produce Kevlar in China
Receives Order From the People's Liberation Army of China To Supply 50,000 Bulletproof Jackets
HONG KONG, April 4 /PRNewswire/ -- China Continental, Inc. (OTC Bulletin Board: CHCL - news) announced today that its
subsidiary, Asia Continental Limited, has launched the manufacture of Kevlar bulletproof fabric that is widely used for making
bulletproof vests. With this new development, the Company has obtained the sole manufacturing license to produce such products in
China.
Simultaneously, Asia Continental has received an order from the People's Liberation Army of China to supply 50,000 bulletproof
jackets. The agreement will also require the Company to supply a further 50,000 jackets by the end of this year. The Company is
currently in discussions to supply 70,000 jackets to the Indonesian police force.
``We are very excited about the recent product developments which will definitely strengthen our relationship with the Chinese
government,' commented Mr. Harry H. H. Ho, Chairman of China Continental, Inc. ``Our subsidiary, Asia Continental, had revenues
in 1999 of approximately US$13 million, with net income estimated at approximately US$2.0 million. With this contract and other
recently announced developments, we are expecting to improve our previous year's revenue performance by approximately four
times.'
About China Continental Inc.
China Continental, Inc., traded on the OTC Bulletin Board market since 1995, is a holding company with over ten years of experience
in developing turnkey businesses. Core activities include supplying manufacturing technology on a turnkey basis, high technology
manufacturing techniques in primary industries, and developing and providing technologies in agricultural genetics and farming. The
Company's agricultural genetics and farming activities are centralized in the Inner Mongolia Province of China, covering an area of
406 square kilometers to commercialize its genetic techniques in breeding as well as propagating superior livestock and products in its
own Research and Development Institute. |
