Property, Plant And Equipment

6 Months Ended

Jun. 30, 2012

Property, Plant And Equipment [Abstract]

Property, Plant And Equipment

NOTE 6 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment at June 30, 2012 and December 31, 2011 are summarized as follows (in thousands):

		June 30, 2012			December 31, 2011
Buildings and improvements	$	21,610		$	21,649
Machinery and equipment		51,946			39,566
Office furniture and equipment		453			415
Leasehold improvements		37			37
Vehicles		896			745
		74,942			62,412
Less - accumulated depreciation
and amortization		(17,659	)		(15,459	)
	$	57,283		$	46,953

     Four pieces of land were acquired from the acquisition of Jonway auto in 2011, all land in the People's Republic of China is government owned and cannot be sold to any individual or company. However, the government grants the user a "land use right" (the Right) to use the land. The Company has the right to use the land for 50 years and amortized the Right on a straight-line basis over the period of 50 years. As of June 30, 2012 and December 31, 2011, intangible assets consist of the following:

		June 30, 2012			December 31, 2011
Land use right	$	10,433		$	10,518
Software		97			92
		10,530			10,610
Less: accumulated amortization		(665	)		(535	)
	$	9,865		$	10,075

     Depreciation and amortization expense was $2.3 million and $2 million for the six months, $1.2 million and $1.3 million for the three months ended June 30, 2012 and 2011, respectively.