Consumables

APT Closes Shenzhen Factory

Monday 24. December 2012 - Uni Core Holdings Corporation (OTC Bulletin Board: UCHC), a Hong Kong-based holding company, regrettably informs its shareholders that it has filed for bankruptcy protection for its Shenzhen Factory of the APT Paper Group ("APT"), one of UCHC's subsidiaries. The Shenzhen facility was negatively impacted by the downturn of the Chinese and worldwide economy coupled with a shortage of required cash flow to meet current production needs. APT Shenzhen has been struggling for a long time and management has decided to close it down.

UCHC’s Board believes that this move will allow the company to devote the expected cash savings to bolster the healthier APT Group’s Qingdao and Suzhou factories, which remain fully operational.
UCHC’s management’s goal is to turn the remaining APT operations profitable within six (6) months.
UCHC plans to soon initiate a Valuation Report and an Audit of Prosperous Agriculture Company Limited, its farm business, in order to consolidate their financial results with the Group.
UCHC recently appointed a New York-based investment advisor to aid in the business restructuring and an investment banker to potentially raise capital.
James Wu, CEO of UCHC, commented that, although the above-announced recent moves will provide short term pain, the results should ultimately prove positive.