China Agritech, Inc. Signs 6-Year Marketing and Distribution Agreement With Odyssey International Trading Group
June 09 2009 - 8:15AM
PR Newswire (US)
BEIJING, June 9 /PRNewswire-Asia-FirstCall/ -- China Agritech, Inc.
(OTC:CAGC) (BULLETIN BOARD: CAGC) ("China Agritech", or the
"Company"), a leading national organic fertilizer manufacturer and
distributor in China, today announced that it has entered into a
6-year marketing and distribution agreement with Odyssey
International (Trading) Group Ltd., a Hong Kong corporation
("Odyssey"). This strategic agreement provides for Odyssey to have
the exclusive marketing and distribution rights for the Company's
Lvlingbao series of organic liquid compound fertilizers in certain
markets in China and abroad. Target markets include Central and
South America, South Africa, other Asian countries and overseas
markets. Lvlingbao products are a flagship series of China
Agritech's organic compound fertilizers, and they are specifically
designed to enhance the growth and health of fruits and vegetables,
in addition to increasing the yield of these crops. Odyssey
specializes in the international import and export of fertilizers
and other chemicals, minerals and native products mainly between
China and foreign countries. It has been a very dramatic
achievement that Odyssey has successfully represented Canada Potash
Corp. in introducing and promoting its fertilizer products into the
Chinese and Asia regions. At the same time, Odyssey acts as an
exclusive consultant and agent for the Canada Potash Corp. in Asia.
Mr. Yu Chang, Chairman and Chief Executive Officer of China
Agritech, commented, "We chose to be associated with Odyssey due to
its 25 years of business success in the importing and exporting of
fertilizers, and its ability to introduce new products into new
markets. With this agreement, we are confident that our
high-quality organic liquid fertilizers will penetrate the global
market and enhance our growth, especially in foreign markets."
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,
ability to produce and sell organic granular products in targeted
markets, 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: Gareth Tang, Chief Financial Officer, China Agritech, Inc.
at +86-10-5962-1220 or ; In the U.S.: Kevin Theiss & Valentine
Ding, Investor Relations, Grayling at +1-646-284-9409 or & Web
site: http://www.chinaagritechinc.com/
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