BEIJING and CLAREMONT, Calif., March 18 /Xinhua-PRNewswire-FirstCall/ -- Kiwa Bio-Tech Products Group Corporation (KWBT.OB) reports that the Ministry of Agriculture of the PRC granted an initial fertilizer registration certificate to its wholly-owned subsidiary, Kiwa Bio-Tech Products (Shandong) Co., Ltd. for a newly developed bio-fertilizer product, “Fudikang”. Fudikang is an inoculant that speeds decomposition of organic matter. It was developed by Kiwa-CAU R&D Centre which was established by Kiwa and China Agricultural University, one of the most respected Chinese universities in the field of agriculture.
Organic matter inoculants are widely used to speed fermentation and decomposition of livestock manures, crop remains and straws, city garbage, waste residues and muds as well as other organic compounds to boost the quality of organic matter and its effect as a fertilizer.
Kiwa is partaking in a 2008 initiative organized by the Chinese government, “The National Soil Organic Matter Advancement Pilot Subsidy Project” that includes public bidding for supplying “Straw-decomposing Inoculants” through a Governmental subsidy to 12 provinces and 1 municipality. The purpose of the project is to demonstrate the great importance of organic matter-decomposing inoculants to improve agriculture techniques. Kiwa hopes to be one of several companies to win the bid to supply Guangzhou Province, Sichuan Province, Hunan Province, Hubei Province, Jiangsu Province, Jiangxi Province, Zhejiang Province, Anhui Province, Hebei Province, Shandong Province, Shanxi Province, Liaoning Province and Chongqing city.
Mr. Wei Li, the CEO of Kiwa stated: “The successful product development and awarding of the initial Fertilizer Registration Certificate issued by the national Chinese agricultural administrative authority again demonstrates Kiwa’s capabilities to produce new bio-fertilizer products. Currently Kiwa is actively taking part in the Straw-decomposing Inoculants Public Bidding which is administrated by the Chinese government, and hopes to exploit this opportunity to bring this new product to the market.”
On another note, for security reasons the Olympic Games Organizing Committee has asked all organizations in China to immediately cease all “propagandizing” related to the games. As such Kiwa is unable to comment on any specific projects previously announced. Management of Kiwa is pleased with the acceptance for this planting season of its bio-fertilizer products by both large vegetable suppliers as well as many individual farmers.
ABOUT KIWA BIO-TECH PRODUCTS GROUP CORPORATION
The Company develops, manufactures, distributes and markets innovative, cost-effective, and environmentally safe bio-technological products for agricultural and natural resources and environmental conservation. The Company has acquired the rights to manufacture and market AF-01 Anti-viral Aerosol Agent for use in preventing (blocking) bird-flu disease in Chinese and international markets. The Company has excellent relations with government authorities in China and has developed several innovative, high margin products, while continuing to grow through internal and external product development. The Company’s products are designed to enhance the quality of human life by increasing the value, quality and productivity of crops and decreasing the negative environmental impact of chemicals and other wastes. For more information about the Company, please review documents filed with the SEC ( http://www.sec.gov ) or visit the Company’s website at http://www.kiwabiotech.com .
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.
