Segment Information

6 Months Ended

Jun. 30, 2011

Segment Reporting, Disclosure of Other Information about Entity's Reportable Segments [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 9 - SEGMENT INFORMATION

For the six months ended June 30, 2011 and 2010, the Company operated in two reportable business segments - (1) the manufacture of dyeing and finishing equipment segment and (2) the manufacture of forged rolled rings and related components for the wind power and other industries segment. The Company's reportable segments are strategic business units that offer different products. They are managed separately based on the fundamental differences in their operations.  All of the Company’s operations are conducted in the PRC.

Information with respect to these reportable business segments for the three and six months ended June 30, 2011 and 2010 is as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Revenues:
Dyeing and finishing equipment	$	3,901,293		$	5,224,490		$	8,050,316		$	10,217,723
Forged rolled rings and related components		8,706,888			13,752,784			22,124,245			25,600,233
		12,608,181			18,977,274			30,174,561			35,817,956
Depreciation:
Dyeing and finishing equipment		234,331			124,892			397,587			235,102
Forged rolled rings and related components		1,092,426			491,104			2,106,172			965,540
		1,326,757			615,996			2,503,759			1,200,642
Interest expense:
Dyeing and finishing equipment		-			-			-			-
Forged rolled rings and related components		32,826			18,494			62,528			45,470
Other (a)		-			-			-			47,943
		32,826			18,494			62,528			93,413
Net income (loss):
Dyeing and finishing equipment		406,206			702,525			829,648			1,202,503
Forged rolled rings and related components		1,048,738			2,516,330			3,490,411			4,487,755
Other (a)		(284,985	)		(195,198	)		(484,940	)		(720,064	)
		1,169,959			3,023,657			3,835,119			4,970,194
Identifiable long-lived tangible assets at June 30, 2011 and December 31, 2010 by segment:
Dyeing and finishing equipment	$	10,061,338		$	6,033,004
Forged rolled rings and related components		48,255,624			48,709,989
	$	58,316,962		$	54,742,993
Identifiable long-lived tangible assets at June 30, 2011 and December 31, 2010 by geographical location:
China	$	58,316,962		$	54,742,993
United States		-			-
	$	58,316,962		$	54,742,993