PROPERTY, PLANT AND EQUIPMENT, NET, AND LAND USE RIGHTS

12 Months Ended

Dec. 31, 2014

PROPERTY, PLANT AND EQUIPMENT, NET, AND LAND USE RIGHTS [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET, AND LAND USE RIGHTS

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

Property, plant and equipment, net at December 31, 2014 and 2013 are summarized as follows (in thousands):

	December 31, 2014			December 31, 2013
Buildings and improvements	$	21,381		$	21,473
Machinery and equipment		48,914			48,572
Office furniture and equipment		889			518
Vehicles		817			865
		72,001			71,428
Less: accumulated depreciation
and amortization		(29,406	)		(23,424	)
	$	42,595		$	48,004

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, 2014 and 2013, land use rights consist of the following:

	December 31, 2014			December 31, 2013
Land use right	$	10,978		$	10,855
Software		109			109
		11,087			10,964
Less: accumulated amortization		(1,146	)		(912	)
Less: accumulated Translation Adjustments		(230	)		(44	)
	$	9,711		$	10,008

          As of December 31, 2014, estimated future amortization expense for land use rights is as follows (in thousands): 

	Amortization
Year	Expense
2015	$	226
2016		207
2017		207
2018		205
2019		205
Thereafter		8,661
	$	9,711

Depreciation and amortization expense of property, plant and equipment, as well as land use rights and software was approximately $6.8 million and $6.7 million for the years ended December 31, 2014 and 2013.