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Asia Cork Introduces New Series of Cork Sheets for Compound or Wood Floor Boards

Asia Cork Inc. (OTCBB:AKRK) had developed and started to sell a series of new products from Jan. 2010.

The new series of products include cork sheets of 4 different thicknesses, from 1mm to 6mm, and are of high, low and middle three types of density. The new products are aimed at the customers who are large compound and wood floor manufacturers and who use these cork sheets as the cushion layer of the compound or wood floor boards.

“Price is the major concern for these customers who are also manufacturers, and thus we decide to add this new series of middle-end products of comparatively lower prices to our products family to satisfy this market demand,” said Mr. Chen, the CEO of Asia Cork Inc. “We use Sichuan Hanxin Cork Merchandises Co, Ltd., our most trusted cooperative partner and raw material provider as the OEM manufacture for the new product series, for these mid-end products do not demand process standards and procedures as high and strict as our other products such as cork floor and wall boards. The new products provide higher revenue to the company, and tighten our relationship with other decoration materials manufacturers, which would bring new opportunities in future.”

During nine months from Jan to Sep 2010, the revenue generated from the new product series reaches around $2 million, accounting for near 9% of the total sales revenue of $22.4 million during the period. The breakdown as follows:

1mm cork sheet US$   398,643
3mm cork sheet 540,533
5mm cork sheet 610,708
6mm cork sheet 435,608
New Product Series Sales Sub-Total 1,985,493
Total Sales 22,436,245
Percentage 9%

Mid-end cork products as semi-finished goods have large domestic market in China. With the industry standards and consumer requirements getting higher, more floor boards are supposed to have a cushion layer made of cork to better their physical properties and functionality. Asia Cork expects sales of the new products series to be rising in future years.


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