CHANGGE CITY, China, July 16 /PRNewswire-Asia/ -- Zhongpin Inc. (Nasdaq: HOGS) ("Zhongpin" or the "Company"), a leading meat and food processing company in the People’s Republic of China ("China"), today announced that the Company showcased its standardized integrated meat processing model facility to a delegation composed of senior officials from the Tianjin Municipal Government on July 8, 2009.
Accompanied by Mr. Xianfu Zhu, Chairman and CEO of Zhongpin, members of the Tianjin Municipal Government visited the construction site of Company’s new standardized integrated meat processing facility in the Jinghai Economic Technical Development Area, Tianjin City. Mr. Gaoli Zhang, Member of Political Bureau of the Communist Party of China (CPC) Central Committee and the Secretary of Tianjin Municipal Committee of the CPC, and Mr. Xingguo Huang, Mayor of Tianjin City, both commended the Company’s diligent efforts, efficient operations, and stressed Zhongpin’s important contributions to the economic progress of Tianjin and the neighboring cities. The Bohai Bay region and Tianjin City have a high population density presenting a huge market for pork consumption. Tianjin is the third largest city in China with special legal status, and the new production facility will meet the population’s pork demand, encourage hog breeding, and provide employment opportunities.
Zhongpin’s new Tianjin facility will have annual processed meat production capacity of 36,000 metric tons, chilled pork capacity of 70,000 metric tons, and frozen pork capacity of 30,000 metric tons. The daily processed meat production capacity of this facility will account for approximately 20% of the overall consumption in the Tianjin market. In addition to the meat processing center, the new facility includes a cold-chain logistics and distribution center, which is targeted to be one of the most influential cold chain logistics bases around Tianjin City and Bohai Bay; a capacity support center, which includes a R&D center, an inspection center, an information technology center, and a training center. When the facility comes online in 2010, it will employ 1,800 workers and provide employment opportunities for more than 23,000 people both upstream and downstream in the meat and processed food industry. The overall design is in accordance with strict environmental protection requirements and an important step for Tianjin’s ecology.
"This new facility will play a significant role in Zhongpin’s global strategy and its development in the chilled pork and prepared meat supply chain. Zhongpin is one of the few meat processors in China promoting integration, technological advancement, and superior quality. Our new standardized integrated meat processing facility in Tianjin City will further modernize the industry. We are significantly increasing our production capacity to meet growing demand for our pork products," commented Mr. Xianfu Zhu, Chairman and CEO of Zhongpin. "Upon completion, this facility will enhance our production capabilities, expand our capacity and make positive contributions to Tianjin’s growing economy."
About Zhongpin
Zhongpin is a meat and food processing company that specializes in pork and pork products, and fruits and vegetables in China. Its distribution network in China spans 20 provinces and 4 cities with special legal status, and includes over 3,097 retail outlets. Zhongpin’s export markets include the European Union and Southeast Asia. For more information, contact CCG Investor Relations directly or go to Zhongpin’s website at http://www.zpfood.com .
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Certain statements in this press release and oral statements made by Zhongpin on its conference call in relation to this release constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding our expectations of future consumer demand and ability to complete the facility within the timeframe discussed. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs, but these projections also involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include, but are not limited to, such factors as, unanticipated changes in product demand, interruptions in the supply of live pigs/raw pork, downturns in the Chinese economy, delivery delays, freezer facility malfunctions, poor performance of the retail distribution network, changes in applicable regulations, and other information detailed from time to time in the Company’s filings and future filings with the United States Securities and Exchange Commission. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations.
For more information, please contact:
Crocker Coulson, President
CCG Investor Relations
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
Feng Wang, Chief Financial Officer
Zhongpin Inc.
Tel: +86-10-8286-1788
Email: ir@zhongpin.com
Web: http://www.zpfood.com
