News Archive

Tagalder's acquisition of Tung Shing Development  
March 15, 2001

Tagalder today announced in a Press Release that it has acquired a twenty percent (20%) ownership interest in Tung Shing Development Limited. The purchase price was set at C$1,113,208.

Tung shing's prime business is a plywood manufacturing operation in Weidong, China. The company has recently entered into an agreement to manufacture and supply plywood and other wood products to GDCE5, one of the major construction companies in China. Production is expected to commence in the spring of this year. 

Mr. Peter Chun, Director and CEO of Tagalder, has been appointed as Tagalder's representative on the Board of Directors of Tung Shing. 

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