Source: Economic Daily, page 7

Date: Tuesday, November 07, 95

From: DailyNews@asiainfo.com

BEIJING, Nov.7, Asiainfo Services, Inc. -- Beijing Hongshi Coating Company and Akzo-N.V International Coating Co., Ltd., of Holland have agreed to establish their joint venture, Akzo-Nobel-Hongshi Coating Co., Ltd. The venture involves a total investment of US$21 million for the production, research, development and marketing of coating materials. The annual output of the venture is expected to be 30,000 tons at the initial phase, which will gradually be expanded to at least 45,000 tons. Holland had already undertaken technological cooperation with Hongshi, establishing two joint ventures, one for powder coating and another for automobile coating.