Published: July 29, 2010
China Nutrifruit Completes Technological Upgrades to its Fruit Concentrate Production Lines
DAQING, China , July 29 /PRNewswire-Asia-FirstCall/ -- China Nutrifruit
Group Limited (NYSE Amex: CNGL) ("China Nutrifruit" or "the Company"), a
leading producer of premium specialty fruit based products in China ("PRC"),
today announced that on July 10, 2010 the Company successfully completed
technological upgrades to its fruit concentrate production lines at its
Mudanjiang and Daqing facilities.
As part of technological upgrades, China Nutrifruit installed additional
equipment and implemented advanced production techniques at the Company's
facilities in Daqing and Mu Dan Jiang. The Company also made systematic
upgrades to its existing equipment, replacing inefficient machinery to improve
performance and productivity. The Company provided equipment training to
equipment operators to ensure operating efficiency. As a result of the
technological upgrades, the Company expects to benefit from improved
productivity and maximize its resource efficiency, favorably affecting gross
margins. China Nutrifruit incurred total capital expenditures of $4.5 million
for this project.
"I would like to thank all our staff members for their valuable assistance
in completing our technological upgrades on schedule," said Mr. Changjun Yu,
Chairman and CEO of China Nutrifruit. "We are pleased with the outcome and
look forward to a healthy production season which will begin later this month.
Such upgrade will help attract leading international customers as we seek to
expand our customer base and penetrate the overseas market. We are always
seeking opportunities to improve and maintain our profitability, and upgrading
our fruit concentrate production lines will improve our raw material
efficiency, productivity and profitability."
About China Nutrifruit Group Limited
Through its subsidiary Daqing Longheda Food Company Limited, China
Nutrifruit, is engaged in developing, processing, marketing and distributing a
variety of food products processed primarily from premium specialty fruits
grown inNortheast China, including golden berry, crab apple, blueberry and
raspberry. The Company's processing facility possesses ISO9001 and HACCP
series qualifications. Currently, the Company has established an extensive
nationwide sales and distribution network through 20 provinces inChina. For
more information, please visit http://www.chinanutrifruit.com .
Forward-Looking Statements
This press release contains 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 (the "Exchange Act""). Such
statements include, among others, those concerning the Company's expectation
regarding the expected performance benefits from technological upgrades to
fruit concentrate production lines, ability to penetrate the overseas market,
the Company's ability to develop and introduce new fruit and vegetable powder
products and its impact on future revenue growth and profitability, and the
Company's expected financial performance and strategic and operational plans,
as well as all assumptions, expectations, predictions, intentions or beliefs
about future events. You are cautioned that any such forward-looking
statements are not guarantees of future performance and that a number of risks
and uncertainties could cause actual results of the Company to differ
materially from those anticipated, expressed or implied in the forward-looking
statements. The words "believe," "expect," "anticipate," "project," "targets,"
"optimistic," "intend," "aim," "will" or similar expressions are intended to
identify forward-looking statements. All statements other than statements of
historical fact are statements that could be deemed forward-looking statements.
Risks and uncertainties that could cause actual results to differ materially
from those anticipated include risks related to new and existing products; any
projections of sales, earnings, revenue, margins or other financial items; any
statements of the plans, strategies and objectives of management for future
operations; any statements regarding future economic conditions or performance;
uncertainties related to conducting business inChina; any statements of
belief or intention; any of the factors mentioned in the "Risk Factors"
section of our filling, and other risks and uncertainties mentioned in our
other reports filed with the Securities and Exchange Commission. The Company
assumes no obligation and does not intend to update any forward-looking
statements, except as required by law.
For more information, please contact:
Company Contact:
Mr. Colman Cheng, Chief Financial Officer
China Nutrifruit Group Limited
Phone: +852-9039-8111
Email: zsj@longheda.net
Web: http://www.chinanutrifruit.com
Investor Relations Contact:
Elaine Ketchmere, Partner
CCG Investor Relations
Phone: +1-310-954-1345 (LA office)
Email: elaine.ketchmere@ccgir.com
Web: http://www.ccgirasia.com
Mr. Crocker Coulson, President
Phone: +1-646-213-1915 (NY office)
Email: crocker.coulson@ccgir.com
SOURCE China Nutrifruit Group Limited
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