Deyu Agriculture Corp. Subsidiary Detian Yu Joins China Food Industry Association
BEIJING, July 23, 2012 /PRNewswire-Asia-FirstCall/ -- Deyu Agriculture Corp. (OTCBB: DEYU) (the "Company"), a vertically integrated producer, processor, marketer and distributor of organic and other agricultural products made from corn and grains, announced today that its wholly-owned subsidiary, Detian Yu Biotechnology Co. (Beijing)., Ltd. ("Detian Yu"), was elected a member of the China Food Industry Association.
"We are honored to be part of the China Food Industry Association and we will strive to take advantage of the opportunities this membership presents us with," said Jianming Hao, Chief Executive Officer and Chairman of Deyu. "Our membership should help us keep better up to date with China's industrial policies and participate in the nation's affairs in regard to cereal processing. Additionally, we are confident that our membership will enable us to further enhance our corporate image and promotion of our branded products. All in all, we are very excited to join the Association and have the opportunity to establish connections with some of the brightest minds and prominent companies in our field."
Detian Yu, selected as one of the Top 10 Grain Processing Enterprises in China by the China Food Industry Association, is engaged in the wholesale and retail distribution of simple processed and deep processed packaged and unpackaged food products. The Company added Detian Yu to its bulk trading division in the Fourth Quarter of 2010, and Detian Yu helped fuel substantial growth in this business segment from Fiscal Year 2010 to Fiscal Year 2011. During this time, the Company's bulk trading division improved its sales 936%, from $4.2 million to $43.3 million.
About Deyu Agriculture
Deyu Agriculture Corp. is a vertically integrated producer, processor, marketer and distributor of organic and other agricultural products made from corn and grains operating in Shanxi Province of the People's Republic of China. The Company has access to over 109,000 acres of farmland in Shanxi Province for breeding, cultivating, processing, warehousing and distributing grain and corn products. Deyu has an extensive wholesale network in over 15 provinces and a retail distribution network of approximately 20,000 supermarkets and convenience stores in 29 provinces across China. Deyu's facilities include advanced production lines and modern warehouses with a total production capacity of over 105,000 tons for grain products, storage capacity of over 100,000 tons and annual turnover of 700,000 tons for corn products. The Company's website is located at www.deyuagri.com.
Safe Harbor Statements
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Deyu's management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of 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, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in China, general economic conditions; geopolitical events and regulatory changes, availability of capital, changes in the agricultural industry, the Company's ability to maintain its competitive position. Additional Information regarding risks can be found in the Company's quarterly and annual reports filed with the U.S. Securities and Exchange Commission at www.sec.gov.
Mr. Kevin Fickle, President
NUWA Group LLC.
Ms. Amy He, Acting Chief Financial Officer
Deyu Agriculture Corp.
Tel: +86-10-5224-1802 X389
Ms. Cynthia Yang, Assistant to Acting CFO
SOURCE Deyu Agriculture Corp.