Published:
China Green Agriculture, Inc. Progresses on Construction of New Facilities
XI'AN, China, Aug. 19 /Xinhua-PRNewswire-FirstCall/ -- China Green
Agriculture, Inc. (OTC Bulletin Board: CGAG) ("China Green Agriculture" or
"the Company"), a leading producer and distributor of organic humic acid ("HA")
based liquid compound fertilizer through its wholly owned subsidiary, Shaanxi
TechTeam Jinong Humic Acid Product Co., Ltd., today announced that it is
progressing as scheduled in the construction of its expanded fertilizer
manufacturing facilities at its headquarters inShaanxi province, PRC.
The new manufacturing facilities, which broke ground in May of this year,
will increase China Green Agriculture's annual organic fertilizer output by an
additional 40,000 tons, from 10,000 tons per year to 50,000 tons. To date,
China Green Agriculture has completed its foundation work for the new facility
and is currently constructing the main building. In addition, the Company has
recently finalized contracts for the purchase and installation of all
equipments that will be used in the manufacturing facility including dryers,
mixers, reactors, etc. This equipment was custom ordered from a medical
machinery manufacturer to function in accordance with the Company's
proprietary automated control system, allowing China Green Agriculture to
manufacture high grade, uniform quality fertilizer products. Furthermore, the
new facility will be able to produce granular HA fertilizer, diversifying the
Company's product offering from liquid fertilizers.
"We are pleased with the speed and efficiency with which the construction
process of our new facilities has proceeded," commented Mr. Tao Li, CEO of
China Green Agriculture. "As we are currently operating at above capacity, we
are eager to be able to expand our production volumes as soon as possible. At
the current pace of construction, we hope for our new facilities to come
online in February of 2009."
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 10,000 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
customer 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 fiscal
year ended June 30, 2007 includeHeilongjiang (9.99%),Guangdong (7.81%),
Xinjiang (6.59%),Shandong (5.81%), andHenan (5.80%). For more information,
visit http://www.cgagri.com .
Cautionary 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:
Company Contact:
Mr. Tao Li
Chief Executive Officer
China Green Agriculture, Inc.
Tel: +86-29-88266386
Email: kingtone@techteam.com.cn
Investor Relations Contact:
Mr. Crocker Coulson
President
CCG Investor Relations
Tel: +1-646-213-1915 (NY Office)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
SOURCE China Green Agriculture, Inc.
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