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Property, plant and equipment | 6 Months Ended
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Jun. 30, 2011
Property, plant and equipment | (6) Property, plant and equipment As of June 30, 2011 and December 31, 2010, property, plant and equipment consisted of the following:
|  | June 30, 2011 |  |  | December 31, 2010 |
Property, Plant, and Equipment: |  |  |  |  |  |
Land use rights |  | $ | 2,318,459 |  |  | $ | 2,266,282 |
Building and improvements |  |  | 10,248,652 |  |  |  | 7,283,466 |
Machinery and equipment |  |  | 66,946,624 |  |  |  | 64,913,451 |
Vehicles |  |  | 229,222 |  |  |  | 224,063 |
Construction in progress |  |  | 52,225,128 |  |  |  | 32,316,540 |
|  |  | 131,968,085 |  |  |  | 107,003,802 |
Less accumulated depreciation and amortization |  |  | (22,206,050 | ) |  |  | (19,557,842 | )
Property, Plant and Equipment, net |  | $ | 109,762,035 |  |  | $ | 87,445,960 |
Land use rights represent state-owned land located in China with lease terms of 50 years expiring in 2053. Construction in progress mainly represents payments for the new5600 corrugating medium paper production line under construction. Property, plant and equipment with net values of $10,573,729 and $4,928,033 have been pledged for short-term bank loans of HBOP as of June 30, 2011 and December 31, 2010, respectively. Depreciation and amortization of property, plant and equipment during the three months ended June 30, 2011 and 2010 were $1,104,155 and $1,078,337, respectively, while the depreciation and amortization were $2,189,099 and $2,022,597 during the six months ended June 30, 2011 and 2010, respectively.

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- Definition The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 + Details
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