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American Lorain Corporation Announces Change in State of Incorporation to Nevada

2009-11-18 22:13 1207

JUNAN COUNTY, China, Nov. 18 /PRNewswire-Asia/ -- American Lorain Corporation (NYSE Amex: ALN), an international processed foods company based in Shandong Province, People's Republic of China, announced that it has changed its state of incorporation from Delaware to Nevada, effective November 12, 2009.

The Company expects to save money as a result of the reincorporation, since Nevada requires no franchise taxes and does not levy a corporate income tax. The provisions of the Nevada Revised Statutes and the existing case law dealing with Nevada corporations generally are considered favorable to management. For details concerning the differences between Delaware and Nevada law and other implications of the redomicile, please refer to the Definitive Information Statement on Schedule 14C filed with the U.S. Securities and Exchange Commission on October 13, 2009, and mailed to the Company's shareholders.

The reincorporation will not result in any change in the Company's business, management, assets or liabilities.

About American Lorain Corporation

American Lorain Corporation is a Nevada corporation that develops, manufactures and sells various food products. The Company's products include chestnut products; convenience foods products (including ready-to-cook foods, ready-to-eat foods, and meals-ready-to-eat); and frozen, canned and bulk foods products. The company currently sells over 234 products to 26 provinces and administrative regions in China as well as to 42 foreign countries. The Company operates through its four direct and indirect subsidiaries and one leased factory located in China. For more information about American Lorain, please visit our website at http://www.americanlorain.com .

Forward-Looking Statements

Statements contained herein that relate to the Company's future performance, including statements with respect to forecasted revenues, margins, cash generation and capital expenditures are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance or achievements to differ materially from those anticipated. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Among the factors that could cause actual results to materially differ include: general business and economic conditions, particularly the current downturn in the worldwide economy; our ability to obtain adequate supplies of raw materials; our ability to manage our expansion strategy; changes in foreign currency exchange rates; government regulation; difficulties in new product development; changing consumer tastes in disparate markets worldwide and our ability to address those changes; our ability to attract and retain highly qualified personnel; and other factors affecting our operations that are set forth in our Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission. 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.

Source: American Lorain Corporation
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Keywords: Food/Beverages
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