PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2013

PROPERTY, PLANT AND EQUIPMENT, NET [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 4 - Property, plant and equipment, net, and Land Use Rights

Property, plant and equipment, net at December 31, 2013 and 2012 are summarized as follows (in thousands):

	December 31, 2013			December 31, 2012
Buildings and improvements	$	21,473		$	20,725
Machinery and equipment		48,572			48,081
Office furniture and equipment		518			499
Leasehold improvements		-			37
Vehicles		865			872
		71,428			70,214
Less: accumulated depreciation
and amortization		(23,424	)		(16,857	)
	$	48,004		$	53,357

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 December 31, 2013 and 2012, land use rights consist of the following:

	December 31, 2013			December 31, 2012
Land use right	$	10,855		$	10,558
Software		109			97
		10,964			10,655
Less: accumulated amortization		(912	)		(657	)
Less: accumulated Translation Adjustments		(44	)		(231	)
	$	10,008		$	9,767

As of December 31, 2013, estimated future amortization expense for land use rights is as follows (in thousands): 

Year ending	Amortization
December 31,	Expense
2014	$	255
2015		255
2016		255
2017		255
2018		255
Thereafter		8,733
	$	10,008

Depreciation and amortization expense of property, plant and equipment, as well as land use rights and software was approximately $6.7 million and $5.7 million for the years ended December 31, 2013 and 2012.