BIRKET ENGINEERING ESTABLISHES WFOE IN CHINA

SHANGHAI, CHINA – 24 JULY 2014 – Received today were registration documents for Birket Engineering Shanghai Co. Ltd., making Birket a Wholly Foreign-Owned Enterprise (WFOE) in China. Officially the company’s name is 伯楷工程技术服务(上海)有限公司. Translated, the company name is Bo Kai Engineering and Technology Services (Shanghai) Co., Ltd.

WFOEs are limited-liability corporations organized by foreign nationals and capitalized with foreign funds. They are among the most popular corporate models for non-PRC investors due to their versatility and structural advantages of a Representative Office or Joint Venture. The WFOE provides an independent legal personality and total management control within the limitations of the laws of the PRC.

Birket first established a representative office in Shanghai in 2007. The new WFOE structure provides for direct contracting in China, thereby enabling sales in China, the delivery of components in China, VAT licensing, import/export licensing, and Chinese work visas, and greatly optimizes Birket’s ability to support our Chinese markets

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