- Begins Production of Blackcurrant and Seabuckthorn Concentrate Juice and Glazed Fruits
DAQING, China, Aug. 13 /PRNewswire-Asia/ -- China Nutrifruit Group Limited (NYSE Amex: CNGL) ("China Nutrifruit" or "the Company"), a leading producer of premium specialty fruit based products in China ("PRC"), today announced that the Company commenced production of its new blackcurrant and seabuckthorn concentrate juice and glazed fruits products.
After completing extensive research and development ("R&D") and market research, China Nutrifruit commenced production of its new blackcurrant and seabuckthorn concentrate juice products on July 28, 2010 as planned. Management plans to produce a limited quantity of the high-margin, blackcurrant and seabuckthorn concentrate juice products in fiscal year 2011 and will further expand production in fiscal year 2012.
The Company also completed R&D of its new blackcurrant and seabuckthorn glazed fruit products and commenced production on July 28, 2010. For fiscal year 2011, the Company will engage in limited production of the newly developed glazed fruit products and will ramp up production based on market feedback.
Mr. Changjun Yu, Chairman and CEO of China Nutrifruit said, "We are pleased to expand our product portfolio with the addition of blackcurrant and seabuckthorn concentrate juice and glazed fruit products. While we continue to diversify our product mix in response to consumer tastes and preferences, we are also focused on utilizing new raw materials that offer attractive margins and have high nutrient content. Our extensive distribution network, superior processing and market research capabilities give us confidence that these new products will be widely accepted by consumers."
About China Nutrifruit Group Limited
Through its subsidiary Daqing Longheda Food Company Limited, China Nutrifruit, is engaged in developing, processing, marketing and distributing a variety of food products processed primarily from premium specialty fruits grown in Northeast China, including golden berry, crab apple, blueberry and raspberry. The Company's processing facility possesses ISO9001 and HACCP series qualifications. Currently, the Company has established an extensive nationwide sales and distribution network through 20 provinces in China. For more information, please visit http://www.chinanutrifruit.com .
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act""). Such statements include, among others, those concerning the Company's expectation regarding the market demand for blackcurrant and seabuckthorn concentrate juice products, the expected production timeline for the blackcurrant and seabuckthorn glazed fruit product, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China; any statements of belief or intention; any of the factors mentioned in the "Risk Factors" section of our filling, and other risks and uncertainties mentioned in our other reports filed with the Securities and Exchange Commission. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.
For more information, please contact:
Company Contact:
Mr. Colman Cheng, Chief Financial Officer
China Nutrifruit Group Limited
Phone: +852-9039-8111
Email: zsj@longheda.net
Web: http://www.chinanutrifruit.com
Investor Relations Contact:
Elaine Ketchmere, Partner
CCG Investor Relations
Phone: +1-310-954-1345 (LA office)
Email: elaine.ketchmere@ccgir.com
Web: http://www.ccgirasia.com
Mr. Crocker Coulson, President
Phone: +1-646-213-1915 (NY office)
Email: crocker.coulson@ccgir.com
