Company to continue expansion into convenience rice foods
JUNAN COUNTY, China, May 3, 2011 /PRNewswire-Asia-FirstCall/ -- American Lorain Corporation (NYSE Amex: ALN) ("American Lorain" or the "Company"), an international processed snack foods, convenience foods, and frozen foods company based in Shandong Province, China, today announced that the Company is launching a new line of frozen rice products under its Lorain® brand name, further expanding its instant rice product line.
The Company will produce these new rice products at its Beijing Lorain facility and are currently promoting the product in key markets in China. These products will be available at local grocery and convenience stores and merchandisers, as well as larger, well-known retailers such as Carrefour. The Company is preparing to also introduce new varieties and flavors of instant rice products to cater to different regions of the country, including these "heat and eat" frozen rice products.
The new frozen rice products differ from original constant-temperature rice products mainly in production methodology. The new products use quick-freeze for preservation purpose, instead of the high-temperature sterilizing process employed by constant-temperature rice products, and were thus able to maintain the most original taste and nutrition of the food.
China's Rice Market
China is the largest producer and consumer of rice in the world, with nearly a third of the global market share. Rice is considered a staple food for 65% of the population in China, where annual rice farm output is about 200 million tons.
American Lorain began selling separate instant rice products under its convenience foods segment in early 2010. The Company produced 127 convenience food products in 2010, including "meals ready to eat" (MRE) rice products for civilian use in the form of microwavable rice boxes, as well as self heating rice packs for the army, which only require water to heat. The Company believes that by leveraging the nationally known Lorain® brand name will further assist its penetration into the promising China rice market.
American Lorain's Chairman and CEO, Mr. Si Chen, stated, "We continue to focus on both diversifying our lines to include a wider variety of food products and leveraging our known brand name among different segments. Rice is considered one of the major foods for the Chinese population, and instant rice products are a huge potential market for our Company. We continue to focus on our development, production and distribution initiatives and will continue to keep investors apprised of our progress."
About AmericanLorain Corporation
American Lorain Corporation products include chestnut products, convenience food products and frozen food products. The Company currently sells over 241 products to 26 provinces and administrative regions in China as well as to 42 foreign countries. The Company operates through its five direct and indirect subsidiaries and one leased factory located in China. For further information about American Lorain Corporation, please visit the Company's website at http://www.americanlorain.com.
Forward-Looking Statements
This press release contains certain "forward-looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to, the Company's ability to obtain the necessary financing to continue and expand operations, to market its products in new markets and to offer products at competitive pricing, to attract and retain management, and to integrate and maintain technical information and management information systems, political and economic factors in the PRC, compliance requirement of laws and regulations of the PRC, the effects of currency policies and fluctuations, general economic conditions and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact:
At the Company:
American Lorain Corporation
Mr. David She, CFO
+86-10 8411 3393
david.she@americanlorain.com
Web: http://www.americanlorain.com
Investor Relations:
The Equity Group Inc.
Katherine Yao
Account Executive
+86- 10 6587 6435 / kyao@equityny.com
Adam Prior
Vice President
(212) 836-9606 / aprior@equityny.com
