IT Packaging announced in November 2012 that it has taken voluntary action to renovate the PM1 production line in anticipation of increased regulatory concerns on energy efficiency. The Company voluntarily shut down its operation at end of 2012 and began renovating in the first quarter of 2013. IT Packaging has since commenced commercial production of the newly renovated PM1, producing light weight corrugating medium paper with specification of 40 to 80 gram per square meter (“g/s/m”). PM1’s 40-80g/s/m light weight corrugating medium paper products have a wide range of commercial applications. For example, they can be used to sandwich certain insulation materials as a construction material for wall and floor insulation and to manufacture moisture-proof packaging materials for transportation of books and magazines by the publishing industry in China. It can also be used as corrugating medium to make corrugated cardboard for packaging solutions requiring light-weight boxes.