Tianjin Commodity Exchange (TJComex) Announces Five Year Agreement to Import Wine from Virginia Winery Chateau Morrisette First Shipment of 1,150 Cases of Merlot to Arrive This Month
TIANJIN, China, April 23, 2013 /PRNewswire/ -- Today, the Tianjin Commodity Exchange (TJComex) in Tianjin, China announced a five year agreement with Virginia winery Chateau Morrisette to import wine for the Chinese market. The first purchase under the agreement includes an initial shipment to Tianjin this month of over 1,150 cases of a 2009 Merlot bottled by Chateau Morrisette, one of the largest wineries in the Commonwealth of Virginia.
"We are very pleased to have found wine of such superb quality at Chateau Morrisette. The Chinese market for wine is growing rapidly and we hope that by beginning a long-term relationship with Chateau Morrisette, we will expand wine culture in Tianjin and open our city and country to future purchases of Virginia wines," said Dr. Chuanliu Ni, President and Chief Executive Officer of TJComex. "We also would like thank Governor McDonnell, Secretary Haymore and the Virginia economic development team for their help in introducing Virginia wine to consumers and investors in China."
TJComex was founded as China's fourth commodities exchange and is the first in the country to be privately funded and corporately structured. Currently, TJComex is making global purchases and investments in over a dozen agricultural, energy, industrial and transportation products and commodities. Under Dr. Ni's leadership, TJComex continues to explore opportunities to purchase and import U.S. goods for the growing consumer market in Tianjin.
Chateau Morrisette is located in Floyd County and is regarded as one of the oldest and largest production wineries in Virginia. The winery produces more than 60,000 cases of wine per year from its scenic location on the Blue Ridge Parkway.
"The Tianjin partnership is an integral step toward implementing our long-range strategy of increasing distribution both domestically and internationally," says Chateau Morrisette General Manager George Weldon. "A five-year contract firmly positions Chateau Morrisette on the global stage as Virginia's premier winery and it serves as a testament to the quality wines produced here."
Leading up to the agreement, TJComex retained global consulting firm Advocom Group to identify potential suppliers and coordinate a trade visit by TJComex, during which members of the exchange met with companies producing wine, wood products, and other agribusiness commodities.
"We were pleased to help TJComex find a long term partner in Chateau Morrisette and we look forward to helping TJComex with future purchases and investments," said Advocom Group partner A.J. Donelson.
SOURCE Tianjin Commodity Exchange Co., Ltd.