Asia Packaging Group acquires property in Fujian

Asia Packaging Group Inc. announced the acquisition of a land use right and buildings for Yuanxing Packaging (China) Co. Ltd. manufacturing operations in Fujian Province. During the fourth quarter ended March 31, 2013, the Company entered into a land acquisition agreement with Fujian Xinshidai Industry Trade Development Company in the amount of RMB 120 million ($19.6 million). The transaction involves the purchase of the land use right and associated buildings in Fujian Province relating to the manufacturing operation of Yuanxing Packaging. Closing of this acquisition and transfers of the land use right was completed subsequent to the Company's fiscal year end on March 31, 2013. Asia Packaging Group, through its wholly-owned subsidiaries in the People's Republic of China, is in the business of manufacturing packaging products and services to the food pharmaceutical and retail industries in China.
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