Andatee China Marine Fuel Services Corporation



Quote for Andatee China Marine Fuel Services Corporation

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Summary for Andatee China Marine Fuel Services Corporation

Andatee China Marine Fuel Services Corporation (Andatee) operates its business through its subsidiaries. Its subsidiaries include Goodwill Rich International Limited (Goodwill), Dalian Fusheng Petrochemical Company (Fusheng), and Fusheng's variable interest entity (VIE), Dalian Xingyuan, and Dalian Xingyuan's subsidiaries (Dalian Xingyuan and its subsidiaries being collectively referred to as the VIE entities). Through these VIE entities, the Company is engaged in the production, storage, distribution and wholesale purchases and sales of blended marine fuel oil for cargo and fishing vessels with operations mainly in Liaoning, Shandong and Zhejiang Provinces in People's Republic of China. In May 2010, the Company acquired 52% equity of Mashan Xingyuan Marine Fuel Co., Ltd (Mashan Xingyuan). In July 2010, Andatee acquired 52% equity of Hailong Petrochemical Co., Ltd (Hailong).