With the New Year brought two majority owned China based subsidiaries for China America Holdings, Inc. (OTCBB: CAAH); Shanghai Aohong Industry Company, Limited and Big Tree Toys, Inc.
Shanghai Aohong Industry Company, Ltd. is a leading distributor of chemical fluorine products throughout Asia, and now is 56% owned by China America Holdings, Inc. The subsidiary specializes in the processing, distribution, and import/export of a wide array of refrigerator and coolant products that are used in automobiles, air conditioning systems, refrigeration units, and fire extinguishing agents.
Big Tree Toys, Inc. is a Chinese toy sourcing and exporting company located in Shantou, China. It is now 60% owned by China America Holdings, and specializes in sourcing, quality control and logistics in the toy and entertainment industry in China already having over 100,000 toys and entertainment related products. The subsidiary has expanded into the biometric and explosive detection market by continuing to increase development and research.
The management at China America Holdings has been hard at work over the past year by expanding its operations through strategic acquisitions in China in an effort to increase revenue and create a path towards a highly profitable future. By expanding their current operations and focusing on profitable acquisitions, the company is looking to grow rapidly over the next few years. Management is optimistic that 2008 will be a record year in both areas of revenue and operations. The company is predicting that the revenue will well exceed $50 million and that net income will be over $1.2 million.
Mr. Dore Perler, Chairman and CEO of China America Holdings, stated: “We enter 2008 in the best position in our company’s history. Our current China based subsidiaries are poised to grow their operations substantially as we expand our existing product lines through the introduction of innovative new products and business solutions for our current customers, as well as continue to add new customers to our growing sales base. We remain committed to our business plan of making accretive acquisitions that we believe will create high-margin revenue opportunities for our company. We are currently evaluating a number of potential acquisition candidates that we believe may be highly complementary to our existing businesses and we intend to aggressively pursue those opportunities in the future.”
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