In a recent press statement, NewMarket China, Inc. announced its intent to henceforth be known as China Crescent Enterprises, Inc. in an effort to distinguish itself from its parent organization, NewMarket Technology, Inc.
Formerly the Intercell International Corporation, the company was acquired by NewMarket Tech. in 2006. After a subsequent reorganization, it became known as NewMarket China, and began trading under the symbol: NMCH.
The goal of the company is to bridge the gap between Eastern and Western corporate practices, acting as an international partner to US companies in the developmental stages of business. Low development and manufacturing costs in China appeal to fledgling corporations in America, allowing them the opportunity to globally expand operations.
Changes to a company’s billing traditionally require between 30 to 60 days to take effect. The company hopes to have completed the process by late June, pending SEC approval. According to the announcement, the new name choice is meant to ‘draw parallels between the light that is shed on a waxing crescent moon and the rapid growth of China’s emerging economy.’
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