APT Closes Shenzhen Factory
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.