With production based in Baoding in North China's Hebei Province, Orient Paper is located strategically close to the Beijing and Tianjin region, home to a growing base of industrial and manufacturing activities and one of the largest markets for paper products consumption in the country.
Founded in 1996, Orient Paper has been listed on the NYSE MKT under the ticker symbol "ONP" since December 2009.
But the sale will not signal a full retreat from the insurance business, because Orient will continue to arrange for its branches to act as agents to help Orico Life sell policies, Kanai said.
But the insurer's parent, Orient, racked up a group net loss of 160 billion yen in fiscal 1999 because it disposed of 400 billion yen in bad loans outstanding to corporate borrowers.
Orient had devised a plan for fiscal 2001 under which it envisions disposing of an additional 50 billion yen in bad loans.
The American Orient Express is operated by TCS Expeditions, a Seattle tour operator that specializes in unusual deluxe tours, among them around-the-world tours by private jet, icebreaker voyages through the Arctic, the Nostalgic Istanbul Orient Express from Beijing to Moscow and the Anatolian Express from Istanbul to Damascus.
Photo (1--Color) Travelers on the American Orient Express can relax in art deco club cars.
5% due to a high level of commissions received by Arab Orient.
This is subject to Arab Orient raising its capital base to JOD 10 million (USD 14 million) during 2006 (from the current level of JOD 5 million (USD 7 million)) and its net premium growing at an approximate rate of 10% each year in 2006 and 2007.