Deyu Agriculture Corp. Explores Institutional Sales Segment and
Reaches Supply Agreement Valued at USD18.4 Million
BEIJING, Dec. 14, 2012 /PRNewswire/ -- Deyu Agriculture
Corp. (OTCBB: DEYU) (the "Company"), a Shanxi Province, China based vertically integrated producer,
processor, marketer and distributor of organic and other
agricultural products made from corn and grains, announced today
that it has reached an agreement with Beijing Suning Appliance Co.,
Ltd. (Suning), which is one of China's largest electrical and electronic
appliance retailers with annual sales of approximately US$15 billion in 2011, to supply Suning with
refined packaged grain goods valued at US$18.4 million.
"We are seeing more and more large retailers and service
providers in China, like Suning,
integrating consumer trends into their marketing strategies," said
Jianming Hao, Chief Executive
Officer of Deyu. "One example is the usage of our refined grain
products of famous brands as promotional items for their main
products, as gift items for customers, and as benefit items for
employees. In view of this trend, we believe that our sales to
Suning, which is one of China's
top electronic appliance retailers with over 1,700 chain stores
nationwide, indicate that our brand is becoming a highly
recognizable grain product brand in China."
"So far, we have been pleased to see Suning record US$12.3 million in sales revenue since our
shipments commenced in August 2012," added Mr. Hao. "We understand
the large market potential of institutional sales, and we are
committed to further expanding into this area by developing more
strategic institutional clients and further exploring the
commercial sales segment. We believe the commercial sales of such
nature and scale can introduce more and more customers to Deyu's
products through those institutional clients' large national sales
networks."
About Deyu Agriculture
Deyu Agriculture Corp. is a vertically integrated agricultural
value chain from farmland to consumer market, which produces,
processes, markets and distributes organic and other agricultural
products made from corn and grains operating in Shanxi Province in China. The Company has access to over 109,000
acres of farmland in Shanxi
Province for breeding, cultivating, processing, warehousing
and distributing grain and corn products. Deyu Agriculture Corp.
has an extensive wholesale network in over 15 provinces and a
retail distribution network of approximately 20,000 supermarkets
and convenience stores in 29 provinces across China. Deyu Agriculture Corp.'s facilities
include sophisticated production lines and modern warehouses with a
total production capacity of over 105,000 tons for grain products,
storage capacity of over 100,000 tons and annual turnover of
700,000 tons for corn products. The Company's website is located at
www.deyuagri.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 Corp.'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. Additional
Information regarding risks can be found in the Company's quarterly
and annual reports filed with the U.S. Securities and Exchange
Commission at www.sec.gov.
Investor Contact:
Deyu Hotline: +1-646-499-5475
Mr. Greg Chen, President
Deyu Agriculture Corp.
Tel: +1-646-820-8085
Email: gregchen@china-deyu.com
Ms. Amy He, Chief Financial
Officer
Deyu Agriculture Corp.
Tel: +86-10-5224-1802 X389
Email: amy@china-deyu.com
Mr. Kevin Ma
NUWA Group LLC
Tel: +1-212-984-1869
Email: qma@nuwagroup.com
SOURCE Deyu Agriculture Corp.