China Agritech, Inc. Comments That Severe Drought May Increase Demand for Its Liquid Organic Fertilizer
February 19 2009 - 7:52AM
PR Newswire (US)
Current Operations Not Negatively Affected BEIJING, Feb. 19
/PRNewswire-Asia-FirstCall/ -- China Agritech, Inc. (OTC:CAGC)
(BULLETIN BOARD: CAGC) ("CAGC" or "the Company"), a leading
national-level liquid organic compound fertilizer manufacturer and
distributor in China, today announced that the severe drought in
Northern China may represent an opportunity for its Green Vitality
liquid organic compound fertilizer to increase its market share.
The drought in Northern China began in October 2008 and official
data indicates it has affected an estimated 40% of the winter wheat
crop in that region. Sustained drought can cause extreme damage or
death to winter wheat plants as well as other crops. The drought
coincided with the crucial "greening" phase of the wheat's growth
cycle. The Green Vitality organic liquid fertilizer is designed to
protect winter wheat, and a wide variety of other crops such as
corn, cotton, soybeans and fruits, from severe drought, frost and
certain diseases by increasing nutrient absorption. Mr. Yu Chang,
Chairman and Chief Executive Officer of China Agritech, stated,
"The severe drought in Northern China has not had any discernable
negative impact on our current operations. We focus on crops which
are harvested in the fall season, and together they represent
approximately 70% of China's total harvested crops. This means that
our peak fertilizer season is between March and August. However,
given the severity of the current drought, we believe our Green
Vitality product can be more helpful to affected farmers by
reducing the water requirements and increasing the nutrients to
their crops." About China Agritech, Inc. China Agritech, Inc. is
engaged in the development, manufacturing and distribution of
liquid and granular organic compound fertilizers and related
products in China. The Company has developed proprietary formulas
that provide a continuous supply of high-quality agricultural
products while maintaining soil fertility. The Company sells its
products to farmers located in 26 provinces of China. For more
information about the Company, please visit
http://www.chinaagritechinc.com/ . Safe Harbor Statement This
release contains certain "forward-looking statements" relating to
the business of China Agritech and its subsidiary companies, which
can be identified by the use of forward-looking terminology such as
"believes, expects" or similar expressions, including but not
limited to, statements regarding the continued demand for China
Agritech's products, China Agritech's ability to sustain growth for
the balance of the year and China Agritech's ability to generally
meet all of its objectives. Such forward-looking statements involve
known and unknown risks and uncertainties, including all business
uncertainties relating to product development, marketing,
concentration in a single customer, raw material costs, market
acceptance, future capital requirements, and competition in general
and other factors that may cause actual results to be materially
different from those described herein as anticipated, believed,
estimated or expected. Certain of these risks and uncertainties are
or will be described in greater detail in our filings with the SEC.
Except as required by law, China Agritech is under no obligation to
(and expressly disclaims any such obligation to) update or alter
its forward-looking statements whether as a result of new
information, future events or otherwise. For more information,
please contact: In China: Mr. Kelviz Lim Kok Siak Investor
Relations China Agritech, Inc. Tel: +86-10-5962-1220 Email: In the
U.S.: Mr. Kevin Theiss / Mr. Valentine Ding Investor Relations
Grayling Tel: +1-646-284-9409 Email: / DATASOURCE: China Agritech,
Inc. CONTACT: In China - Kelviz Lim Kok Siak, Investor Relations,
China Agritech, Inc. at +86-10-5962-1220 or ; Or in the U.S. -
Kevin Theiss and Valentine Ding, Investor Relations, Grayling at
+1-646-284-9409 or and for China Agritech Web site:
http://www.chinaagritechinc.com/
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