China Agritech's Products to Make Presence in Ukraine
September 04 2008 - 8:00AM
PR Newswire (US)
BEIJING, Sept. 4 /Xinhua-PRNewswire-FirstCall/ -- China Agritech,
Inc. (OTC:CAGC) (BULLETIN BOARD: CAGC) ("China Agritech" or "the
Company"), a leading liquid organic fertilizer manufacturer in
China, today announced that the Company has entered into a contract
with Superus Company Ltd. ("Superus"), an international company in
Ukraine in the business of trading agrochemical products. Superus
began cooperating with China Agritech to conduct product testing in
April 2008. After successful testing, China Agritech's Green
Vitality liquid fertilizer was proven to have superior quality in
comparison with the local brands in Ukraine and Superus has decided
to conduct test sales of China Agritech's products. The initial
contract is for 10,000 liters of Green Vitality liquid fertilizer
product worth $75,000, which will be shipped in September 2008.
Orders are expected to increase significantly upon successful
acceptance of the product in the Ukrainian markets. All current and
future sales will be made in compliance with all applicable U.S.
laws and regulations "We are happy to announce our entry into the
Ukrainian market. Following our entry into the Egyptian market in
July, we are glad to see successful penetration into another
international market. Our Green Vitality liquid fertilizer product
has once again demonstrated superior quality in comparison with
local competitors," commented Mr. Yu Chang, CEO of China Agritech.
"The test sales provide us time to evaluate Superus' capability in
promoting our products and for careful study of the Ukrainian
market, which will facilitate our decision on further cooperation
for expanding sales across Ukraine. We continue to explore new
markets globally, which will drive our future revenue growth. The
high quality and performance of our products helps increase our
brand value and recognition," added Mr. Yu. About Superus Company
Ltd. Superus Company Ltd is an international company engaged in the
business of trading in agrochemical products and operating Real
Estate business. The Company has its headquarters in Ukraine and a
branch office in Hong Kong. Its major markets are Europe, Africa,
Asia, the Far East, and Oceania. About China Agritech Inc. China
Agritech is engaged in the development, manufacture 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 26
provinces of China. For more information visit
http://www.chinaagritechinc.com/ . 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: CCG Investor Relations Crocker Coulson, President
Tel: +1-646-213-1915 Email: Web: http://www.ccgir.com/ China
Agritech, Inc. Kelviz Lim Kok Siak, VP of Finance Tel:
+86-10-5962-1220 Email: Web: http://www.chinagritechinc.com/
DATASOURCE: China Agritech, Inc. CONTACT: Kelviz Lim Kok Siak, VP
of Finance of China Agritech, Inc., +86- 10-5962-1220, or ; or
Crocker Coulson, President of CCG Investor Relations for China
Agritech, Inc., +1-646-213-1915, or Web site: http://www.ccgir.com/
http://www.chinagritechinc.com/
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