GUANGZHOU, China, June 26, 2014 /PRNewswire/ -- Sino Agro Food,
Inc. (OTC BB: SIAF), is an integrated, diversified agriculture
technology and organic food company ("the Company") with principal
operations as primary producer, processor, and marketer in the
People's Republic of China ("PRC").
The Company is delighted to announce that its China joint venture company Qinghai Sanjiang A
Power Agriculture Co., Ltd. ("SJAP") has entered into two contracts
with Tesco, PLC to become both a supplier and an in-store butcher
shop concessionaire of beef and lamb. The contracts became
effective June 19, 2014 and run for
five years.
Tesco, PLC is one of the largest grocery and merchandise retail
chains in the world, operating almost 7,000 stores with revenue of
US $120 Billion. On May 29, 2014, Tesco formed a joint venture with
China Resources Enterprise, Ltd. ("CRE"), operators of the
"Vanguard" retail chain, to create the largest multi-format
retailer in China.
Sino Agro/SJAP will provide its
own brand of product lines, as well as design for its in-store
butcher shops. Supply of beef and lamb will start in major Shanghai
Tesco stores, and branded outlets will expand in phases.
More information regarding grand openings, product lines
offered, and relevant developments will be forthcoming as
it materializes.
The Company's CEO, Solomon
Lee commented, "Understanding that retail space within Tesco
stores is a guarded commodity, we are gratified by the confidence
Tesco has in the quality of our products and our abilities to meet
production volumes and Tesco standards. This contract will bring a
new level of awareness, stature, and value to the SJAP
enterprise."
Sino Agro CFO Olivia Lai
observed, "This partnership with Tesco, PLC provides a most cost
effective and cash flow effective manner to integrate the
distribution and retail levels of SJAP's business model."
About Sino Agro Food, Inc.
Sino Agro Food, Inc. (http://www.sinoagrofood.com) is an
agriculture technology and natural food holding company with
principal operations in the People's
Republic of China. The Company acquires and maintains equity
stakes in a cohesive portfolio of companies that SIAF forms
according to its core mission to produce, distribute, market and
sell natural, sustainable protein food and produce, primarily
seafood and cattle, to the rapidly growing middle class
in China. SIAF provides financial oversight and strategic
direction for each company, and for the interoperation between
companies. The Company owns or licenses patents, proprietary
methods, and other intellectual properties in its areas of
expertise. SIAF provides consulting and services to joint venture
partners to construct and operate food businesses, primarily
producing wholesale fish and cattle. Further joint ventures market
and distribute the wholesale products as part of an overall "farm
to table" concept and business strategy.
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Forward Looking Statements
This release may contain forward-looking statements relating to
the business of SIAF and its subsidiary companies. All statements
other than historical facts are forward-looking statements, which
can be identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions. These statements
involve risks and uncertainties that may cause actual results to
differ materially from those anticipated, believed, estimated or
expected. These risks and uncertainties are described in detail in
our filings with the Securities and Exchange Commission.
Forward-looking statements are based on SIAF's current expectations
and beliefs concerning future developments and their potential
effects on SIAF. There is no assurance that future developments
affecting SIAF will be those anticipated by SIAF. SIAF undertakes
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required under applicable securities
laws.
Not a Broker/Dealer or Financial Advisor
Sino Agro Food, Inc. is not a Registered Broker/Dealer or a
Financial Advisor, nor does it hold itself out to be a Registered
Broker/Dealer or Financial Advisor. All material presented in this
press release, on the Company's website or other media is not to be
regarded as investment advice and is only for informative purposes.
Readers should verify all claims and conduct their own due
diligence before investing in Sino Agro Food, Inc.
Investing in small-cap, micro cap and penny stock securities is
speculative and carries a high degree of risk.
No Offer of Securities
None of the information featured in this press release
constitutes an offer or solicitation to purchase or to sell any
securities of Sino Agro Food, Inc.
SOURCE Sino Agro Food, Inc.