Segment Information

3 Months Ended

Mar. 31, 2012

Segment Reporting, Disclosure Of Other Information About Entitys Reportable Segments [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 12 - SEGMENT INFORMATION

For the three months ended March 31, 2012 and 2011, the Company operated in two reportable business segments - (1) the manufacture of forged rolled rings and related components for the wind power and other industries segment, which also includes the manufacture of the Company’s solar industry products, and (2) the manufacture of dyeing and finishing equipment 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 months ended March 31, 2012 and 2011 is as follows:

	Three Months Ended March 31,
	2012			2011
Revenues:
Forged rolled rings and related components	$	5,585,455		$	13,417,357
Dyeing and finishing equipment		3,823,774			4,149,023
		9,409,229			17,566,380
Depreciation:
Forged rolled rings and related components		1,217,169			1,013,746
Dyeing and finishing equipment		330,176			163,256
		1,547,345			1,177,002
Interest expense:
Forged rolled rings and related components		77,633			29,702
Dyeing and finishing equipment		12,400			-
		90,033			29,702
Net income (loss):
Forged rolled rings and related components		326,669			2,441,673
Dyeing and finishing equipment		409,343			423,442
Other (a)		(433,217	)		(199,955	)
		302,795			2,665,160
Identifiable long-lived tangible assets at March 31, 2012 and December 31, 2011 by segment:
Dyeing and finishing equipment	$	11,861,739		$	12,111,684
Forged rolled rings and related components		51,596,106			51,930,395
	$	63,457,845		$	64,042,079
Identifiable long-lived tangible assets at March 31, 2012 and December 31, 2011 by geographical location:
China	$	63,457,845		$	64,042,079
United States		-			-
	$	63,457,845		$	64,042,079

(a)           The Company does not allocate any general and administrative expenses of its U.S. activities to its reportable segments, because these activities are managed at a corporate level.