Property, plant and equipment, net (Tables)

9 Months Ended

Sep. 30, 2017

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

The Company’s property, plant and equipment as of September 30, 2017 and December 31, 2016 are summarized as follows (figures are in thousands of USD):

	September 30, 2017			December 31, 2016
Land use rights and buildings	$	55,067		$	47,448
Machinery and equipment		150,928			134,361
Electronic equipment		5,636			4,979
Motor vehicles		4,954			4,395
Construction in progress		28,832			24,890
Total amount of property, plant and equipment		245,417			216,073
Less: Accumulated depreciation ⁽¹⁾		(130,115	)		(114,595	)
Total amount of property, plant and equipment, net ⁽²⁾⁽³⁾	$	115,302		$	101,478

(1)

As of September 30, 2017 and December 31, 2016, the Company pledged property, plant and equipment with a net book value of approximately $25.9 million and $28.5 million, respectively as security for its comprehensive credit facilities with banks in China.

(2)

Depreciation charges were $3.0 million and $3.3 million for the three months ended September 30, 2017 and 2016, respectively, and $10.7 million and $10.4 million for the nine months ended September 30, 2017 and 2016, respectively.

(3)

Interest costs capitalized for the three months ended September 30, 2017 and 2016, were $0.2 million and $0.1 million, respectively; and $0.5 million and $0.2 million for the nine months ended September 30, 2017 and 2016, respectively.