Posted July 20, 2018
Orient Paper’s Board of Directors approved to change its corporate name to IT Tech Packaging, Inc., as the company said in the press release received by Lesprom Network.
The name change is expected to be accomplished through a short-form merger pursuant to Section 92A.180 of the Nevada Revised Statutes. A subsidiary formed solely for the purpose of the name change will be merged with and into the Company, with the Company remaining as the surviving corporation in the merger. The merger will have the effect of amending the Company's Articles of Incorporation for the sole purpose of reflecting the Company's new legal name. In accordance with Section 92A.180 of the Nevada Revised Statutes, stockholder approval of the merger is not required.
The Company has applied to the NYSE MKT to change its ticker symbol from "ONP" to "ITP", to take effect following the effectiveness of the name change. The Company's common stock will then trade under a new CUSIP number. Trading under the new name, symbol and CUSIP is expected to begin on August 1, 2018.
Orient Paper, Inc. is a leading paper manufacturer in North China. Orient Paper produces and distributes three categories of paper products: corrugating medium paper, offset printing paper and tissue paper products.