CHANGGE CITY, Henan, China, Nov. 9 /Xinhua-PRNewswire/ -- Zhongpin Inc.
(OTC Bulletin Board: ZHNP) today announced that it has signed an agreement
with Heilongjiang Gongzhun Meat Food Co., Ltd. to lease a production facility
in Hailun City, Heilongjiang province. The newly-leased facility expands
Zhongpin’s access into the northeast China market, primarily in Heilongjiang
province, Jilin province and Liaoning province.
(Logo: http://www.prnasia.com/sa/200611091647.jpg )
The addition of the Heilongjiang facility increases Zhongpin’s
production capacity of chilled and frozen pork and enhances the Company’s
potential revenue. Total capacity at the facility is 80 metric tons/day,
which includes 50 metric tons/day for chilled pork and 30 metric tons/day for
frozen pork. The lease agreement covers the assets in the facility,
including live pig slaughtering, cutting and refrigeration facilities,
railway lines and water, electricity, sewage, barns, logistics, lodging,
offices and sales outlets and other slaughtering-related facilities,
equipment and manufacturing instruments. The distribution network for this
facility covers Heilongjiang province and other parts of northeast China, as
well as exports.
“The addition of the Heilongjiang production facility is an important
step in increasing our capacity as we continue to increase our market share
by meeting market demand for high-quality, fresh and nutritious meat
products. This production facility also enables us to increase our presence
in north-eastern China with the advantage of immediate access to fresh
products that will help us build a national brand for pork and meat
products,” commented Baoke Ben, Executive Vice President of Zhongpin Inc.
About Zhongpin Inc.
Zhongpin is a meat and food processing company that specializes in pork
and pork products, and vegetables and fruits, in the PRC. Its distribution
network in the PRC spans more than 20 provinces and includes over 2,290
retail outlets. Zhongpin’s export markets include the European Union,
Eastern Europe, Russia, Hong Kong, Japan and South Korea. For more
information, contact CCG Elite directly.
Safe Harbor Statement Under the Private Securities Litigation Reform Act
of 1995:
Forward-looking statements are statements that are not historical facts.
Such forward-looking statements are based upon the current beliefs and
expectations of Zhongpin’s management and are subject to risks and
uncertainties, which could cause actual results to differ from the forward-
looking statements. The following factors, among others, could cause actual
results to differ from those set forth in the forward-looking statements:
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.