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Property, Plant and Equipment

6 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

10. Property, Plant and Equipment

Property, plant and equipment, stated at cost less accumulated depreciation, consisted of the following:

	December 31, 2014			June 30, 2014
Plant and machinery	$	79,350,349		$	79,372,491
Buildings		23,997,768			24,012,468
Motor vehicles		438,922			722,018
Office equipment		556,203			556,293
Bearings		2,060,932			2,038,014
		106,404,174			106,701,284
Less: Accumulated depreciation		(57,754,808	)		(53,357,141	)
	$	48,649,366		$	53,344,143

Depreciation expense related to manufacturing is included as a component of cost of goods sold. During the six months ended December 31, 2014 and 2013, depreciation totaling $3,559,051 and $3,313,961, respectively, was included as a component of cost of goods sold.

Plant and machinery amounting to $24,658,265 (June 30, 2014: $26,780,344) and $13,323,668 (June 30, 2014: $14,663,967) were pledged for short-term loans totaling $27,715,781 and long-term loans including current portion totaling $16,200,000, respectively, at December 31, 2014 (June 30, 2014: $27,732,760 and $16,200,000, respectively).

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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