HONG KONG, July 18, 2006 (PRIMEZONE) -- NT Holding Corp. (OTCBB:NTHH) today announced its corporate development strategy with Shanxi Jinhai Metal Group Limited ("Jinhai"), a Chinese company that engages in coking coal and steel production in the Shanxi Province of China.
NTHH completed its acquisition of 58% of the equity of Jinhai on June 30, 2006. The current production capability of Jinhai was approximately 180,000 tons of coking coal per annum. Upon the completion of acquisition, in order to further enhance the profitability of the operations of Jinhai, NTHH will expand the current production capacity of Jinhai to 600,000 tons of coking coal output per annum. Jinhai has already passed the land and environmental evaluation conducted by the Chinese provincial government and approval for expansion was obtained. The expansion is expected to be completed in mid 2007.
"The demand of coking coal in China increases substantially in recent years," said Peter Chun, CEO of NTHH. "Expand the production capacity of Jinhai will further strengthen our profitability and market shares in the future."
About NT Holding Corp.
NTHH, through its subsidiaries, invests in and operates companies in China that engage in energy and natural resources businesses. NTHH is based in Hong Kong and currently operates two subsidiaries in Asia: (1) Shanxi Jinhai Metal Group that engages in coking coal and steel production in the Shanxi Province of China and (2) PT Borneo that owns a 30 years coal mining right concession in Indonesia. NTHH is positioning itself to support Asia's growing need for power, energy and natural resources.