Published:
China Marine Food Group Ltd. Initiates Private Label Program for Leading Snack Food Store Chain
SHISHI, China, Sept. 29 /PRNewswire-Asia-FirstCall/ -- China Marine Food
Group Ltd. (NYSE Amex: CMFO), a processor of seafood-based snack foods and
distributor of fresh and frozen marine catch, today announced its contract
with a Hong Kong -based confectionary store chain which will use China Marine's
seafood snack foods exclusively for a private label program for chain's
planned 300 store roll-out in China throughout 2009.
Building on China Marine's success in penetrating a large convenience
store chain inShanghai in 2008, the Company has initiated a private label
program for one ofAsia's most recognized snack-food and confectionary chain
stores. TheHong Kong-based retailer features more than 1,000 company branded
products for its 250 stores throughoutHong Kong,the Philippines,Singapore
and China. The chain is currently expanding its network in China to 300
stores by the end of 2009.
China Marine's Roasted Squid, Roasted Sliced Octopus, Roasted Sliced Squid,
Roasted Shredded Squid and Roasted Sea Robin will be packaged in specially
designed bags at China Marine's Shishi factory for delivery and placement in
each of the chain's planned 300 stores. The chain markets their goods in
kiosk-like locations which are featured in high-traffic retail food stores,
supermarkets and shopping malls in China. The program will be managed through
China Marine's distribution network to facilitate in store restocking and
point of sale support. Located on the back of the private-label packaging are
China Marine's company details. China Marine has forecasted revenues of $3
million for the initial year of the program, with gross margins that are
consistent with its current product revenues
"This marks an important development for our company," began Chairman and
CEO Pengfei Liu. "Our new chain customer is recognized throughoutAsia and is
well-known to provide its customers with only the highest quality foods under
its brand name. Since customers of the chain pay a premium for such foods, we
are pleased the company has recognized our ability to supply quality products
to support their fast growing network of stores throughout China."
About China Marine
China Marine Food Group Ltd. processes and distributes seafood-based snack
foods, and fresh and frozen marine catch to seven provinces in the PRC.
Founded in 1994, China Marine has grown steadily and positioned its
"Mingxiang(R)" brand as a category leader in 2,200 retail sales points in the
PRC. The Company has received "The Famous Brand" and "Green Food" awards.
Located in theFujian province, it is one of the largest coastal provinces in
the PRC and a vital navigation hub between the East China Sea and the South
China Sea. The Company is committed to the highest standard of quality control
with the ISO9001, ISO14001, HACCP certification and EU export registration.
For more information, please contact:
COMPANY
Marco Hon Wai Ku, CFO
Suite 815, 8th Floor
Ocean Centre, Harbour City
Kowloon, HONG KONG
Tel: +852-2111-8768
Email: marco.ku@china-marine.cn
Web: http://www.china-marine.cn
INVESTOR RELATIONS
John Mattio
SVPHC International, Inc.
56 June Road, North Salem NY
Tel: +1-914-669-5340 (U.S.)
Email: john.mattio@hcinternational.net
Web: http://www.hcinternational.net
SOURCE China Marine Food Group Ltd.
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Tags: ,FOD,REA,PDT,CMFO-HK-Based-Chain