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China Marine Food Group Ltd. Initiates Private Label Program for Leading Snack Food Store Chain

2009-09-29 20:14 568

HK-Based Chain expanding to 300 Store locations in China by the end of 2009

SHISHI, China, Sept. 29 /PRNewswire-Asia-FirstCall/ -- China Marine Food Group Ltd. (NYSE Amex: CMFO), a processor of seafood-based snack foods and distributor of fresh and frozen marine catch, today announced its contract with a Hong Kong-based confectionary store chain which will use China Marine's seafood snack foods exclusively for a private label program for chain's planned 300 store roll-out in China throughout 2009.

Building on China Marine's success in penetrating a large convenience store chain in Shanghai in 2008, the Company has initiated a private label program for one of Asia's most recognized snack-food and confectionary chain stores. The Hong Kong-based retailer features more than 1,000 company branded products for its 250 stores throughout Hong Kong, the Philippines, Singapore and China. The chain is currently expanding its network in China to 300 stores by the end of 2009.

China Marine's Roasted Squid, Roasted Sliced Octopus, Roasted Sliced Squid, Roasted Shredded Squid and Roasted Sea Robin will be packaged in specially designed bags at China Marine's Shishi factory for delivery and placement in each of the chain's planned 300 stores. The chain markets their goods in kiosk-like locations which are featured in high-traffic retail food stores, supermarkets and shopping malls in China. The program will be managed through China Marine's distribution network to facilitate in store restocking and point of sale support. Located on the back of the private-label packaging are China Marine's company details. China Marine has forecasted revenues of $3 million for the initial year of the program, with gross margins that are consistent with its current product revenues

"This marks an important development for our company," began Chairman and CEO Pengfei Liu. "Our new chain customer is recognized throughout Asia and is well-known to provide its customers with only the highest quality foods under its brand name. Since customers of the chain pay a premium for such foods, we are pleased the company has recognized our ability to supply quality products to support their fast growing network of stores throughout China."

About China Marine

China Marine Food Group Ltd. processes and distributes seafood-based snack foods, and fresh and frozen marine catch to seven provinces in the PRC. Founded in 1994, China Marine has grown steadily and positioned its "Mingxiang(R)" brand as a category leader in 2,200 retail sales points in the PRC. The Company has received "The Famous Brand" and "Green Food" awards. Located in the Fujian province, it is one of the largest coastal provinces in the PRC and a vital navigation hub between the East China Sea and the South China Sea. The Company is committed to the highest standard of quality control with the ISO9001, ISO14001, HACCP certification and EU export registration.

For more information, please contact:

COMPANY

Marco Hon Wai Ku, CFO

Suite 815, 8th Floor

Ocean Centre, Harbour City

Kowloon, HONG KONG

Tel: +852-2111-8768

Email: marco.ku@china-marine.cn

Web: http://www.china-marine.cn

INVESTOR RELATIONS

John Mattio

SVPHC International, Inc.

56 June Road, North Salem NY

Tel: +1-914-669-5340 (U.S.)

Email: john.mattio@hcinternational.net

Web: http://www.hcinternational.net

Source: China Marine Food Group Ltd.
Related Stocks:
AMEX:CMFO
Keywords: Food/Beverages
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