Contract Valued at Approximately $3.05 Million
LANXI COUNTY, China, Dec. 8 /PRNewswire-Asia/ -- China Linen Textile Industry, Ltd. (OTC Bulletin Board: CTXIF), a China-based company engaged in the production and sale of linen yarn and various types of linen fabric, announced today that its wholly-owned subsidiary, Heilongjiang Lanxi Sunrise Linen Textile Industry Co. Ltd., has signed a contract with an Italian company to deliver approximately 1.4 million meters of semi-bleached linen fabric. The contract is valued at approximately $3.05 million. The first shipment will occur in December 2009 and continue through five total shipments to be completed in May 2010.
Tanny Tex S.R.L., based in Prato, Italy, is a leading seller and distributor of linen and knitted fabrics in the northern Italian region. China Linen Textile provides the entire Tanny Tex inventory of linen products and has serviced the Italian company for five years.
Mr. Gao Ren, chairman and chief executive officer of China Linen Textile Industry, stated: "We have enjoyed a productive and growing relationship with Tanny Tex for five years, and this year's order showed an increase of 10% over the same period last year. Tanny Tex is continuing to expand its business, which will result in higher production and sales for China Linen Textile in 2009 and 2010. This large order demonstrates our commitment to producing the highest quality fabrics and the speed and efficiency of our production process."
About China Linen Textile Industry, Ltd.
China Linen Textile Industry Co., Ltd., is principally engaged in the production and sale of linen yarn and various types of linen fabric. It is also involved in consultation, research and development related to of linen technology and linen products. The Company carries on all of its business activities through its subsidiary, Heilongjiang Lanxi Sunrise Linen Textile Industry Co, Ltd., which was established as a privately owned business enterprise in June 2002. Its manufacturing facility is located in Lanxi County, Heilongjiang Province, in the northeast section of the People's Republic of China near the city of Harbin.
For more information on China Linen Textile Industry, Ltd., visit http://www.china-linen.net/English/index.asp .
Forward-looking statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope,"
"indicate," "intend," "likely," "may," "might," "plan," "potential," "project,"
"seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
For further information, please contact:
At the company:
China Linen Textile Industry, Ltd.
Tong Li
Tel: +1-718-790-1231
Email: tongli@china-linen.net
Web: http://www.china-linen.net/English/index.asp
Investor relations:
RedChip Companies, Inc.
Dave Gentry
Tel: +1-800-733-2447, Ext. 104
Email: info@redchip.com
Web: http://www.RedChip.com
