BEIJING, Nov. 19, 2010 /PRNewswire-Asia-FirstCall/ --
China Agritech, Inc. (Nasdaq: CAGC) ("China Agritech", or the
"Company"), a leading organic compound fertilizer manufacturer and
distributor in China, today
announced the appointment of Ms. Choco
Tan as VP of Finance, effective immediately. Ms.
Linda Dai, who previously served as
VP of Finance, will head the internal auditing department going
forward.
Ms. Tan brings six years of Big Four CPA experience across
various accounting standards in China and Malaysia, having served at
PricewaterhouseCoopers ("PWC"), Ernst & Young Hua Ming in Beijing, China, and Deloitte in Penang, Malaysia. Her primary responsibilities
included assurance and advisory services where she conducted
auditing for clients in various industries such as agriculture,
coal mining, food processing, logistics, and publications. Ms. Tan
led several IPO projects performing statutory auditing of clients'
financial accounts with China GAAP, Hong Kong GAAP, US GAAP and
IFRS accounting standards. Ms. Tan also has two years of financial
controller experience at T.A.E. Engineering Works Sdn. Bhd., a
medium-sized Malaysian company, where she established and
implemented a comprehensive internal control system for the
company.
Ms. Tan is a Chartered Accountant (C.A.) of the Malaysia
Institute of Accountant ("MIA"). She received her Bachelor of
Accountancy at the Northern University of Malaysia. Ms. Tan speaks English, Mandarin
Chinese and Malay.
Mr. Yu Chang, Chairman and Chief
Executive Officer of China Agritech, commented, "We believe Ms. Tan
is the right candidate to serve as VP of Finance with her Big Four
accounting background, experience as a financial controller, and
her ability to manage and work with teams. We are very pleased that
an individual with Ms. Tan's expertise, professional integrity and
commitment to teamwork is joining China Agritech. In addition to
our recent engagement of Ernst & Young as our new auditor, Ms.
Tan will contribute to enhancing our financial controls and
reporting standards to accommodate our continuing business growth
in China."
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 28 provinces of
China. For more information,
please visit http://www.chinaagritechinc.com.
Safe Harbor Statement
This press release contains certain statements that may be
deemed to be "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, and the
Private Securities Litigation Reform Act of 1995. All statements,
other than statements of historical facts, that address activities,
events or developments that the Company expects, projects, believes
or anticipates will or may occur in the future, including, without
limitation, statements about its business or growth strategy,
general industry conditions, future operating results of the
Company, capital expenditures, expansion and growth opportunities,
financing activities and other such matters, are forward-looking
statements. Although the Company believes that its expectations
stated in this press release are based on reasonable assumptions,
actual results may differ from those projected in the
forward-looking statements. 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:
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Mr. Gareth Tang
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Chief Financial
Officer
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China Agritech, Inc.
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gareth@chinaagritech.com
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Mr. Shiwei Yin/Kevin
Theiss
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Investor Relations
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Grayling
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+1-646-284-9474
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shiwei.yin@grayling.com
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kevin.theiss@grayling.com
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SOURCE China Agritech, Inc.