Deyu Agriculture Corp. Subsidiary Detian Yu Receives Awards From China National Association of Grain Sector
BEIJING, Aug. 28, 2012 /PRNewswire-Asia-FirstCall/ -- Deyu Agriculture Corp. (OTCBB: DEYU) (the "Company"), a Beijing, China based vertically integrated producer, processor, marketer and distributor of organic and other agricultural products made from corn and grains, today announced that the China National Association of Grain Sector awarded Deyu's wholly-owned subsidiary, Detian Yu Biotechnology (Beijing) Co., Ltd. ("Detian Yu"), the "AAA Grade Credit Rating" as well as the title of "Integrity Cereals and Oil Enterprise." Detian Yu, which was elected a member of the China Food Industry Association in July 2012, is engaged in the wholesale and retail distribution of simple processed and deep processed packaged and unpackaged food products.
The China Grain Sector National Association conducted the evaluation and recommendation for the "AAA" award, and the credit status was objectively rated by third party credit evaluation organizations based on Detian Yu's business management, solvency and credit status. The "AAA" rating is a comparatively higher level of credit that reflects Detian Yu's consistent integrity in its business operations for a long period of time, in addition to the potential and advantages Detian Yu possesses in regards to procurement of raw materials, technologies, R&D capability, product quality, industry prospects and marketing and internal management.
"We are honored to receive these awards as they represent strong intangible assets for our Company," said Jianming Hao, Chief Executive Officer and Chairman of Deyu. "The 'AAA Credit Rating' and the title of 'Integrity Cereals and Oil Enterprise' further strengthen the development of our corporate credit system and the promotion of our brand strategy, and also underscore that Detian Yu has achieved excellent results of wide recognition and affirmation from the community. As a whole, our Company will continue to strive to build the integrity of our business operations and enhance our corporate credibility in the future."
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, Chief Financial Officer
Deyu Agriculture Corp.
Tel: +86-10-5224-1802 X389
Ms. Cynthia Yang, Assistant to CFO
SOURCE Deyu Agriculture Corp.