Legend Capital Invests in Shanghai New Sihe Wood

Shanghai, China,October 22, 2007– Legend Capital, a venture capital vehicle of Legend Holdings Limited, and several foreign venture capital firms have invested $20 million into Shanghai New Sihe Wood Co., Ltd, according to a report from SinoCast.

The company said in a statement that driven by the booming development of China‘s real estate industry, the country’s home improvement industry as well as the flooring manufacture also enjoyed a fast-growing development currently.

Shanghai New Sihe Wood, founded in 2001, manufactures engineered flooring.

Headquartered in Shanghai, the company has subsidiaries in both the United States and Belgium.

The company, which plans to be listed on the country’s A-share market in 2009, is weighing a plan to build primary production bases directly in the world’s wood-rich countries such as Russia, according to a company executive.