BEIJING, Oct. 6 /PRNewswire-Asia/ -- Deyu Agriculture
Corp. (OTC Bulletin Board: ECBI) ("Deyu Agriculture" or the
"Company"), an emerging, vertically integrated producer, processor,
marketer and distributor of organic and other agricultural products
made from corn and various grains, today announced the acquisition
of land use rights to approximately 53,000 mu (8,731 acres) of
ecological farmland in Jinzhong City, Shanxi Province. The farmland will be used
exclusively for the cultivation of organically grown grains. The
acquisition agreement was entered into September 30, 2010.
"This acquisition is a key component of Deyu Agriculture's
strategic growth plan. The organically grown grains produced on
this farmland will ensure an adequate supply as we expand our
simple processed grain products throughout China, and look to expand our market into
deeply processed organic grain products," said Mr. Jianming Hao, Chairman and Chief Executive
Officer of Deyu Agriculture. "As we continue to monitor the supply
of grains in the market, acquiring these land use rights for the
next 42 years, along with our 20 year exclusive farming rights to
over 550,000 mu of farmland in the Shanxi
Province, will help ensure an adequate supply of organically
grown grains for our current and future growth plans."
About Deyu Agriculture Corp.
Deyu Agriculture Corp. ("Deyu Agriculture" or the "Company") is
an emerging organic and non-organic agricultural products producer
and distributor in Shanxi Province
of the People's Republic of China
engaged in procuring, processing, marketing and distributing
various grain and corn products. Deyu Agriculture maintains a large
base in Jinzhong City, Shanxi
Province for breeding, cultivating, processing and
warehousing, and focuses on processing and distributing grain and
corn products.
For more information, contact Deyu Agriculture directly or go to
Deyu Agriculture's website at http://www.china-deyu.com/.
Safe Harbor Statements
This press release contains forward-looking statements made
under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Forward looking statements are based
upon the current plans, estimates and projections of Deyu
Agriculture's management and are subject to risks and
uncertainties, which could cause actual results to differ from the
forward looking statements. Such statements include, among others,
those concerning market and industry segment growth and demand and
acceptance of new and existing products; any projections of sales,
earnings, revenue, margins or other financial items; any statements
of the plans, strategies and objectives of management for future
operations; any statements regarding future economic conditions or
performance; uncertainties related to conducting business in
China, as well as all assumptions,
expectations, predictions, intentions or beliefs about future
events. Therefore, you should not place undue reliance on these
forward-looking statements. The following factors, among others,
could cause actual results to differ from those set forth in the
forward-looking statements: business conditions in China, general economic conditions;
geopolitical events and regulatory changes, availability of
capital, changes in the agricultural industry, the Company's
ability to maintain its competitive position as well as other
relevant risks, including but not limited to risks outlined in the
Company's periodic filings with the U.S. Securities and Exchange
Commission. Deyu Agriculture does not assume any obligation to
update the information contained in this press release.
Company and Investor Relations
Contact:
David Lethem, Chief Financial
Officer
Deyu Agriculture
Corp.
Tel: +1-239-940-8889
E-mail:
david@china-deyu.com.
Web Site: http://www.china-deyu.com
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SOURCE Deyu Agriculture Corp.
Copyright t. 6 PR Newswire