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Style & QiChen Sign Cooperative Manufacturing Agreement

Style signs Cooperative Manufacturing Agreement with QiChen Environmentally friendly flooring company, Style Limited (“SYP”), is pleased to announce that it has signed a cooperative manufacturing agreement with Anji QiChen Bamboo Industry Company, Ltd., with the objective of becoming a leader in strand woven bamboo manufacturing in China. QiChen is an Anji based manufacturer of bamboo flooring products, employs around 300 employees and has a factory capacity of 1m sqm. The company is among China’s leading manufacturers of bamboo flooring; its facilities are located 1km from Style’s wholly owned production plant, Anji Yafeng Bamboo Products Ltd (“AYF”). QiChen has been a Style block supplier since 2006. QiChen is a vertically integrated manufacturer (from bamboo strips to finished product) with particular strengths in block production and supply chain management. Style has invested significant capital in developing its AYF finishing plant and has particular expertise in R&D and quality control, as well as excellence in international sales and marketing Peter Torreele, Chief Executive Officer of Style, commented “This agreement enables Style and QiChen to bring their complementary strengths together and create a dynamic and efficient manufacturing base benefiting from full vertical integration, exceptional quality control and strong R&D. “ The QiChen Agreement allows both companies to enjoy economies of scale by sharing manufacturing assets and management expertise. Via this agreement, strand woven blocks will be produced in QiChen facilities while finished flooring will be produced in Style’s AYF facility. Last week, Style announced an MOU with LianJiang De Er Lin Wooden Products Co. Ltd. (“DEL”), for the licensed manufacturing of Style’s newly‐patented, strand‐woven Eucalyptus range. It also announced its entry into the fast‐growing Chinese flooring market through a partnership with Asia Timber Products Ltd to distribute Style’s specialised flooring products nationwide.