ProGreen Announces Supply Agreement For Sriracha Hot Sauce Producer, Huy Fong Foods, Inc.
December 08 2017 - 8:50AM
InvestorsHub NewsWire
San Diego, CA -- December 8, 2017 -- InvestorsHub NewsWire --
ProGreen US, Inc. (ProGreen), (OTCQB:
PGUS), www.ProGreenUS.com, Twitter @ProGreenUS; ProGreen is
pleased to announce that an agreement has been executed to supply
chili peppers to Huy Fong Foods, Inc. (Huy Fong), maker of the
original Sriracha Hot Sauce - also commonly known as "Rooster"
sauce. Chili peppers grown and harvested by the ProGreen Farms™
operation at Rancho Arenoso will be delivered to Huy Fong's plant
in Irwindale, California.
Under the agreement, ProGreen Farms US, LLC, ProGreen's U.S.
will supply a specified minimum quantity of chili peppers to Huy
Fong in 2018 for an aggregate value of $1,200,000, with no maximum
limit. The upper limit on sales that can be realized through this
agreement will be determined by the growing and output capacity of
the farming operations in Baja California.
ProGreen Farms™ operations in Baja California have been working
on plans for increasing capacity at the Arenoso farm substantially,
and have already taken some of the initial steps.
"This is a big step forward for ProGreen Farms, and we are very
pleased to have Huy Fong Foods as a customer," said Jan Telander,
CEO of ProGreen. "On visiting Huy Fong's offices, I was very
impressed with the management, the plant, and their operations.
This agreement that we have now executed marks the beginning of a
relationship with a world class producer for U.S. and international
markets, with nearly unlimited demand for our product."
"We look forward to working with ProGreen Farms, especially
considering the access to land they have available for expansion, "
said Donna Lam, Executive Operations Officer for Huy Fong Foods,
Inc.
About Huy Fong Foods, Inc.
Huy Fong Foods, Inc., http://www.huyfong.com, with
headquarters and 650,000 sf processing plant in Irwindale,
California, is the maker of the original Sriracha Hot Sauce. The
company's products include Sriracha, Sambal Oelek, and Chili Garlic
Hot Sauce. Huy Fong Foods was founded by David Tran in 1980, moved
to Rosemead, CA in 1986, and just 2 years ago moved to its new home
in Irwindale, CA.
Websites:
www.ProGreenUS.com
www.CieloMarBaja.com
Follow us on social media:
https://www.facebook.com/ProGreenFarms/
https://www.facebook.com/cielomarbajacamx/
https://twitter.com/ProGreenUS
http://www.progreenus.com/blog
About ProGreen US, Inc.
ProGreen US, Inc., www.ProGreenUS.com, based in San Diego,
California, is engaged primarily with investments in agricultural
and real estate projects in Baja California, Mexico, both through
its joint venture partnership with Inmobiliaria Contel S.R.L.C.V.
(Contel) as well as through its majority-owned Mexican subsidiary
Procon Baja JV (Procon). Contel is now active in the high margin
produce industry, growing crops for exporters to the US market,
with an abundance of land available for expansion under our JV
partnership. Procon has recently acquired 5,000 acres of land with
4.5 miles of oceanfront on the Bay of El Rosario, for which a
master plan is being drawn for the development of a very large,
totally green, international vacation and retirement community
called "Cielo Mar."
Independent Stock Message
Forum: https://investorshangout.com/ProGreen-US-PGUS-65470/
This press release might contain information, which may
constitute 'forward-looking statements' within the meaning of the
Securities Act of 1933 and the Securities Exchange Act of 1934, as
amended by the Private Securities Litigation Reform Act of 1995.
'Forward-looking statements' are based upon expectations, estimates
and projections at the time the statements are made that involve a
number of risks, uncertainties and other factors that could cause
actual results or events to differ materially from those
anticipated.
ProGreen US, Inc.Jan Telander, CEO Jan@ProGreenUS.com Phone: 1 (248) 805-3652 www.ProGreenUS.com