BEIJING, July 23 /Xinhua-PRNewswire-FirstCall/ -- China Agritech, Inc., (OTC Bulletin Board: CAGC) ("China Agritech"), a leading liquid fertilizer manufacturer in China, announced today the appointment of Kelviz Lim Kok Siak as the company's new Vice President of Finance as of July 1, 2007. Mr. Lim will be responsible for managing the company's daily financial operations and will be the company's key representative interfacing with investors.
Mr. Lim previously held various positions at Ernst & Young including Audit Assistant Manager and Senior Accountant. At Ernst & Young, Mr. Lim gained in-depth knowledge of U.S. GAAP accounting, corporate governance and the Sarbanes-Oxley Act of 2002. Mr. Lim graduated with honors from Multimedia University, Kuala Lumpur, Malaysia with a Bachelor of Accounting degree. He expects to receive the Association of Chartered Certified Accountants (ACCA) designation in August 2007. He is proficient in both English and Mandarin.
"Mr. Lim's strong analytical ability, broad knowledge of the U.S. GAAP accounting, English skills and auditing experience bring tremendous value to China Agritech," commented Mr. Yu Chang, Chairman, President and CEO of China Agritech. "We feel that Mr. Lim will be a significant asset to us, particularly in communicating our progress in executing our growth strategies to investors in the U.S."
About China Agritech Inc.
China Agritech is headquartered in Beijing, China and is engaged in the development, manufacturing, sale and distribution of organic liquid compound fertilizers and related products in the People's Republic of China. The company has developed proprietary formulas that provide a continuous supply of high－quality agricultural products while maintaining soil fertility. The company sells it products to farmers located in twelve provinces of China including: Heilongjiang, Hebei, Liaoning, Jilin, Shandong, Inner Mongolia, Henan, Sichuan, Guangdong, Xinjiang, Yunnan and Guizhou. For more information visit http://www.chinaagritechinc.com .
Safe Harbor Statement
The statements contained in this Release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are made in reliance on the safe harbor provisions contained therein. Such forward-looking statements include, without limitation, statements regarding the Company's expectations, hopes, beliefs, intentions or strategies regarding the future. These forward-looking statements are based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements such as the inability to protect the proprietary formula, the price of raw materials, any liabilities from unknown harmful effects of the product, and adverse weather conditions and other important factors described in the Company's Form 10-K for the fiscal year ended December 31, 2006 in the section entitled "Risk Factors". The Company undertakes no obligation and does not intend to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
For more information, please contact:
CCG Elite Investor Relations
Crocker Coulson, President
Leslie J. Richardson
Tel: 310-231-8600
Email: Crocker.coulson@ccgir.com