FORT LAUDERDALE, Fla., Aug. 12, 2005 (PRIMEZONE) -- Dragon International Group Corp. (OTCBB:DRGG), one of China's leading manufacturers and distributors of a wide variety of specialty paper products and packaging materials, announced that its research and development center, recently acquired by Dragon, has developed a new coating material for aluminum foil. Dragon has received the first order to supply 2 tons of this new coating material, valued at $1.2 million per year from Hangzhou Zoppas Industries SpA Company, Limited (http://www.zoppas.com).
The Aluminum foil coated with the new materials is mainly used on refrigerator defrosting equipment and coating liner of heaters. Our new material has passed inspection by Shanghai Tianxiang Quality Technology Service Company, Limited.
Chairman and CEO David Wu stated, "We are very pleased with this new product, the first developed within the new Xianyang Naite Research & Development Center. This purchase order from Zoppas Industries, has a global sale network that could lead to additional revenues. This new material could generate $12 million in annual sales with 25% net profit margin and we expect to produce 20 tons per month."
Mr. Wu concluded, "Our newly launched product is the first of its kind in China. The testing results indicate that our product can replace similar imported products at a lower cost. The new product proves the importance of securing a competitive advantage in the industry with a proprietary R&D center. Our goal is to leverage the research and development of new production methods into commercial success."
About Dragon International Group Corporation
Dragon International Group Corp. ("Dragon") owns 100% interest of Ningbo Anxin International Trade Co. Ltd. ("Anxin"). Anxin is located in Ningbo, Zhejiang Province, China, 200 miles south of Shanghai, and was established in 1997. Anxin is one of China's leading manufacturers and distributors of a wide variety of specialty paper products and packaging materials. Anxin operates one subsidiary, Yonglongxin, a manufacturing facility located in Ningbo, and Anxin holds an ISO9000 certificate and national license to import and export its product line globally. Anxin's main products are "Federal" SBS, "Hang Kong" CCB, golden and silver paperboards, holographic film Paper, pearl paperboards, laminating paper. Anxin currently has a distribution network covering east and central China. The company and its subsidiary have cultivated strategic relationships with several of the world's largest and well-known manufacturers of paper and specialty packaging products. For more information, please visit http://www.drgg.net.
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