China Agritech, Inc. Appoints New Vice President of Finance
May 05 2009 - 12:34PM
PR Newswire (US)
BEIJING, May 5 /PRNewswire-Asia-FirstCall/ -- China Agritech, Inc.
(OTC Bulletin Board: CAGC) ("China Agritech" or the "Company"), a
leading national organic fertilizer manufacturer and distributor in
China, today announced that it has appointed Ms. Lingxiao Dai as
Vice President of Finance, effective May 1, 2009. Ms. Dai replaces
Mr. Kelviz Lim who, effective May 1, 2009, resigned on his own
accord for personal reasons. Ms. Dai was most recently the Chief
Financial Officer of the American Yellowstone Power Co., Ltd.'s
branch in China since June 2006. Her responsibilities included
business evaluation, financial plans, appraisals, capital projects
and investments. Prior to that, she was the Dean of the Business
Department of Beijing Huang Pu University and before that she was
the Dean of the Business Department at Beijing - U.S.A. College of
English. Ms. Dai was also an Adjunct Professor of Accounting at
York College, City University of New York. She has held other
accounting positions in private enterprise and government
positions. Ms. Dai received a Bachelor of Business Administration
in Accounting in 1993 and a Master of Science in Taxation in 1996,
both from Baruch College in New York City. She also attended the
Economics and Management Institute of Beijing University of
Technology. She is a member of the Accounting Society and the
Chinese Business Association in the U.S. Mr. Yu Chang, Chairman and
Chief Executive Officer of China Agritech, commented, "We are
enthusiastic about having Ms. Lingxiao Dai join us with her
accounting and management experience to assist us in our business.
Her accounting and business experience in the U.S. will be
important in helping us with U.S. GAAP, and strengthening internal
financial controls, Sarbanes-Oxley and Section 404 reporting. We
also wish to thank Kelviz for his past contributions to our success
and wish him well for the future." About China Agritech, Inc. China
Agritech, Inc. is engaged in the development, manufacture 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 may contain 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," "anticipates," "estimates" 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
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. Gareth Tang Chief
Financial Officer 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: Mr. Gareth Tang, Chief Financial
Officer of China Agritech, Inc., +86-10-5962-1220, or ; In the
U.S.: Mr. Kevin Theiss or Mr. Valentine Ding, Investor Relations of
Grayling, +1-646-284-9409, or , Web Site:
http://www.chinaagritechinc.com/
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