Amira Nature Foods Ltd One of the Select Few Rice Companies Approved from India to Sell Rice into China
December 02 2016 - 8:47AM
Business Wire
Amira Granted Approval to Sell Basmati Rice
Into China, the World’s Largest Market for Rice
Amira Nature Foods Ltd (NYSE: ANFI) (the “Company,” “Amira”), a
leading global provider of branded, packaged Indian specialty rice,
announced today that it has been granted approval to export its
basmati rice to China. Amira is part of a select group of Indian
companies now with the opportunity to enter China, which
is both the world’s largest producer and the largest importer
of rice – importing nearly $2 billion of rice over the last twelve
months. Historically, China had not permitted imports of Indian
basmati rice into the country.
“International expansion has been a strong pillar of our growth,
and we are very excited to have this tremendous opportunity to
further increase our international distribution footprint
with Amira's entrance into the China market,” said Karan A
Chanana, Chairman of Amira Nature Foods Ltd. “We are truly honored
to be granted approval into China with our premium, Amira
[branded] basmati rice as we continue to execute on our
strategic global growth initiatives.”
About Amira Nature Foods Ltd
Founded in 1915, Amira has evolved into a leading global
provider of branded packaged specialty rice, including Basmati and
other food products, with sales across five continents around the
world. The Company primarily sells Basmati rice, which is a premium
long-grain rice grown only in the geographically indicated region
of the Indian sub-continent, under its flagship Amira brand as well
as under other third party brands. Amira sells its products through
a broad distribution network in both the developed and emerging
markets. The Company’s global headquarters are in Dubai, United
Arab Emirates, and it also has offices in India, Malaysia,
Singapore, Germany, the United Kingdom, and the United States.
Amira Nature Foods Ltd is listed on the New York Stock Exchange
(NYSE) under the ticker symbol “ANFI.”
For more information, please visit www.amira.net.
Safe Harbor for Forward-Looking StatementsThis press
release contains statements of a forward-looking nature. These
statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. You can identify
these forward-looking statements by words or phrases such as “may,”
“will,” “except,” “anticipate,” “aim,” “estimate,” “intend,”
“plan,” “believe,” “is/are likely to,” “future” or other similar
expressions. We have based these forward-looking statements largely
on our current expectations and projections about future events and
financial trends that we believe may affect our financial
condition, results of operations, business strategy and financial
needs. There is no assurance that our current expectations and
projections are accurate. These forward-looking statements include,
but are not limited to:
- our goals and strategies;
- our operations and expansion
plans;
- our future business development,
results of operations, financial condition and financial
statements;
- our ability to protect our intellectual
property rights;
- projected revenue, EBITDA, adjusted
EBITDA, profits, adjusted profits, earnings, adjusted earnings and
other estimated financial information;
- our ability to maintain strong
relationships with our customers and suppliers;
- governmental policies regarding our
industry; and
- the impact of legal proceedings.
You should not place undue reliance on forward-looking
statements and you should read these statements in conjunction with
the risk factors disclosed in “Risk Factors” appearing in Amira’s
Annual Reports found on the SEC’s website located at www.sec.gov.
Those risks are not exhaustive. We operate in a rapidly evolving
environment. New risk factors emerge from time to time, and it is
impossible for our management to predict all risk factors, nor can
we assess the impact of all factors on our business or the extent
to which any factor, or combination of factors, may cause actual
results to differ from those contained in any forward-looking
statement. We do not undertake any obligation to update or revise
the forward-looking statements except as required under applicable
law.
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version on businesswire.com: http://www.businesswire.com/news/home/20161202005388/en/
Amira Nature Foods LtdBruce Wacha, 646-779-1984Chief Financial
Officerbruce.wacha@theamiragroup.com
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