China Green Agriculture, Inc. Completes New 40,000-Ton-Capacity Production Facility
27 Maio 2009 - 10:15AM
PR Newswire (US)
Total Annual Capacity Increases to 55,000 Metric Tons of Fertilizer
XI'AN, China, May 27 /PRNewswire-Asia-FirstCall/ -- China Green
Agriculture, Inc. (NYSE Amex: CGA; "China Green Agriculture" or
"the Company"), a leading producer and distributor of humic acid
("HA") based liquid compound fertilizer through its wholly owned
subsidiary, Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd.,
today announced that it has completed the installation and
single-unit testing of its new production facility for green
organic compound fertilizers in China. Located in Shaanxi Province,
the facility is expected to begin production in August 2009. China
Green Agriculture's new facilities include 27 vats for mixing
ingredients and pharmaceutical grade, electronically calibrated
measuring equipment spread over approximately 148,000 square feet.
The new facility will increase the Company's output level to 55,000
metric tons to meet with the growing demand for its green
fertilizer products. Management expects the new facility to ramp up
to full capacity within three years. China Green Agriculture was
the first company in China to build an entirely automated
manufacturing system which precisely measures and mixes key
ingredients to formulate its unique fertilizer products. While the
Company's current facility incorporates a high degree of
automation, new automated equipment has been added in the new
factory as well, which increases efficiency and further reduces
reliance on manual labor. These advanced production techniques
reduce waste which in turn reduces costs. In addition, China Green
Agriculture currently only manufactures liquid fertilizer products;
however the new facility is capable of producing both liquid and
highly concentrated fertilizer. "Based on our extensive
distribution network, strong marketing efforts and sustained market
demand for our green fertilizer products, we expect that our
increased capacity will be quickly absorbed by the Chinese
fertilizer market. This expansion will be China Green Agriculture's
growth driver for the fiscal year ending June 30, 2010, allowing us
to meet our revenue and net income targets," commented Mr. Tao Li,
Chairman and CEO of China Green Agriculture. "We have seen robust
demand within the 27 provinces that we cover, and expect that trend
to continue as the Chinese government seeks to increase farmers'
income and boost the growth of diversified crops, especially for
organic food. By leveraging our new facility we are well positioned
to gain further market share in China's fertilizer market." About
China Green Agriculture, Inc. China Green Agriculture, Inc.
produces and distributes humic acid ("HA") based liquid compound
fertilizer through its wholly owned subsidiary, Shaanxi TechTeam
Jinong Humic Acid Product Co., Ltd., ("TechTeam"). TechTeam
produces and sells approximately 15,000 metric tons of over 100
different kinds of fertilizer products per year. All of TechTeam's
fertilizer products are certified by the PRC government as green
products and suitable for growing Grade AA "green" foods, also
known as green products that contain little or no chemical
materials, as stated by the China Green Food Research Center.
TechTeam's fertilizers are highly concentrated liquids which
require an application of approximately 120 ml per mu per
application. Its average end user has approximately four mu of land
(one mu = .165 acres). China Green Agriculture currently markets
its fertilizer products to private wholesalers and retailers of
agricultural farm products in 27 provinces in the PRC. The leading
five provinces by revenue for the three months ended March 31, 2009
are Shannxi (12.2%), Shandong (10.6%), Anhui (6.2%), Xinjiang
(6.0%) and Henan (5.4%), which in total accounted for 40.5% of our
total fertilizer sales from the sale of our fertilizer products.
For more information, visit http://www.cgagri.com/ . About HC
International, Inc. HC International is a focused and dedicated
organization that acts as a premier information resource for
institutional investors, hedge funds, buy and sell-side analysts,
small to large brokerage firms and accredited investors. HC
International helps their clients companies package their corporate
information in a clear, concise and consistent manner while
facilitating introductions to the right investor at the most
opportune time. HC International maintains offices in the U.S. and
China. For further information, please contact HC International
directly, or visit the Company's Web site at
http://www.hcinternational.net/ . Safe Harbor Statement This press
release contains forward-looking statements concerning the
Company's business, products and financial results. The Company's
actual results may differ materially from those anticipated in the
forward-looking statements depending on a number of risk factors
including, but not limited to, the following: general economic and
business conditions, development, shipment, market acceptance,
additional competition from existing and new competitors, changes
in technology, and various other factors beyond the Company's
control. All forward-looking statements are expressly qualified in
their entirety by this Cautionary Statement and the risk factors
detailed in the Company's reports filed with the Securities and
Exchange Commission. China Green Agriculture undertakes no duty to
revise or update any forward-looking statements to reflect events
or circumstances after the date of this release For more
information, please contact: China Green Agriculture, Inc. Ms. Ying
Yang, Chief Financial Officer Tel: +1-626-623-2575 Email: OR HC
International, Inc. Ted Haberfield, Executive VP Tel:
+1-760-755-2716 Email: Web: http://www.hcinternational.net/
DATASOURCE: China Green Agriculture, Inc. CONTACT: Ms. Ying Yang,
Chief Financial Officer of China Green Agriculture, Inc.,
+1-626-623-2575, or ; Or Ted Haberfield, Executive VP of HC
International, Inc., +1-760-755-2716, or Web site:
http://www.cgagri.com/ http://www.hcinternational.net/
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