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

12 Months Ended

Dec. 31, 2015

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, 2015 and 2014 are summarized as follows (in thousands):

	December 31, 2015			December 31, 2014
Buildings and improvements	$	20,260		$	21,381
Machinery and equipment		47,917			48,914
Office furniture and equipment		853			889
Vehicles		739			817
		69,769			72,001
Less: accumulated depreciation
and amortization		(33,876	)		(29,406	)
	$	35,893		$	42,595

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, 2015 and 2014, land use rights consist of the following:

	December 31, 2015			December 31, 2014
Land use right	$	10,395		$	10,978
Software		102			109
		10,497			11,087
Less: accumulated amortization		(1,370	)		(1,146	)
Less: accumulated Translation Adjustments		(197	)		(230	)
	$	8,930		$	9,711

As of December 31, 2015, estimated future amortization expense for land use rights is as follows (in thousands):

	Amortization
Year	Expense
2016	$	200
2017		193
2018		192
2019		191
2020		191
Thereafter		7,963
	$	8,930

Depreciation and amortization expense of property, plant and equipment, as well as land use rights and software was approximately $6.8 million for the years ended December 31, 2015 and 2014.