China Agritech Opens New Factory in Xinjiang Province
July 30 2007 - 8:30AM
PR Newswire (US)
BEIJING, July 30 /Xinhua-PRNewswire-FirstCall/ -- China Agritech,
Inc. (OTC:CAGC) (BULLETIN BOARD: CAGC) ("China Agritech", the
"Company"), a leading liquid fertilizer manufacturer in China,
announced that it has completed the construction of its new
converting facility in Urumqi City, Xinjiang Uygur Autonomous
Region of China. China Agritech completed the construction of the
new facility at the end of June 2007 and is now in the process of
test running the equipment. Large- scale production is expected to
begin at the beginning of August 2007. The factory has an initial
annual production capacity of 2,000 metric tons and will be
producing the Company's new Green Vitality product, which is
customized to the soil conditions of the region. The factory will
primarily supply large state-owned farms through its wholesale
channel as well as distributors in Russia and western Asia. "We are
excited to have completed our fifth converting factory which
enables us to enter the Xinjiang region. We now effectively cover
all the primary agricultural regions of China, and are truly a
national fertilizer brand," commented Mr. Yu Chang, President and
CEO of China Agritech. "Xinjiang is the largest agricultural
province in China, and the local government allows only registered
fertilizer manufacturers to sell their products there. Our
successful registration of Green Vitality is the stepping-stone to
penetrating this important agricultural market. We expect this
region will significantly contribute to both our revenue and net
income growth." Xinjiang Uygur Autonomous Region of China has 25%
of the country's arable land, making it the largest amount of
arable land in China, according to statistics from the Peoples
Republic of China. Xinjiang Production and Construction Corp
("XPCC") manages the companies engaged in production and
distribution of agricultural materials such as seeds, fertilizer,
and pesticides within the province. On June 15, 2007, China
Agritech was granted its registration to be listed as a vendor for
the government after a two-year evaluation by the provincial
government of Xinjiang. About China Agritech, Inc. China Agritech
is engaged in the development, manufacturing and distribution of
organic liquid compound fertilizers and related products in the
People's Republic of China. The company has developed proprietary
formulas that provide a continuous supply of high quality
agricultural products while maintaining soil fertility. The company
sells it products to farmers located in twelve provinces of China
including Heilongjiang, Hebei, Liaoning, Jilin, Shandong, Inner
Mongolia, Henan, Sichuan, Guangdong, Xinjiang, Yunnan and Guizhou.
For more information visit http://www.chinaagritechinc.com/ . Safe
Harbor Statement The statements contained in this release that are
not purely historical are forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, including without
limitation, statements regarding the Company's expectations, hopes,
beliefs, intentions or strategies regarding the future. These
forward- looking statements are based on the Company's current
expectations and beliefs concerning future developments and their
potential effects on the Company. There can be no assurance that
future developments affecting the Company will be those anticipated
by the Company. These forward-looking statements involve a number
of risks, uncertainties (some of which are beyond the control of
the Company) or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by such forward- looking statements such as the inability
to protect the proprietary formula, the price of raw materials, any
liabilities from unknown harmful effects of the product, and
adverse weather conditions. The Company 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 may be required under applicable securities laws. For more
information, please contact: CCG Elite Investor Relations Crocker
Coulson, President, or Leslie J. Richardson Tel: +1-310-231-8600
Email: DATASOURCE: China Agritech, Inc. CONTACT: Crocker Coulson or
Leslie J. Richardson, +1-310-231-8600, or , of of CCG Elite
Investor Relations for China Agritech, Inc. Web Site:
http://www.chinaagritechinc.com/
Copyright