Real estate giant China Vanke suspends purchases of Anxin wood flooring from A&W (Shanghai) Woods, begins 'urgent investigation' in response to allegations, media reports, questioning product quality

Wendy Lisney

SHENZEN, China , February 21, 2012 (press release) – The Company attaches great importance to the articles recently published on the Internet about the quality of A&W (Shanghai) Woods's products ("Anxin" at home and "ARK" abroad) being questioned. In response to these articles, the Company has already commenced an urgent investigation into the relevant issues and will request A&W (Shanghai) Woods. Co.,Ltd. to provide comprehensive answers to the relevant questions.

Prior to the confirmation of investigation results, the Company will suspend procurement of the flooring products under the "Anxin" brand. As for those flooring products purchased from Anxin but not yet installed, the Company will put them aside for the time being. A special unit of the Company has begun to formulate a set of relevant standards for quality inspection, including the procedures for inspection of flooring already installed and inviting quality inspection organization to assist in inspection. The Company will also conduct internal investigation into the relevant purchasing management.

Should the results of the investigation find that there are problems with the product quality, the Company will duly assume its obligations and responsibility and safeguard the legal interests of its customers.

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