Yongye International Forms Strategic Partnership With Farmer's Daily
BEIJING, Nov. 24, 2010 /PRNewswire-Asia-FirstCall/ -- Yongye International, Inc. (Nasdaq: YONG) ("Yongye" or the "Company"), a leading manufacturer, developer and distributor of "Shengmingsu" brand plant and animal nutrient products in China, today announced that on November 16, 2010, the Company formed a strategic partnership with Farmer's Daily (the "Partnership").
Farmer's Daily was established over 30 years ago and was the first, and is currently the largest, national newspaper in China targeted at rural residents. It is also the largest print media administered by the PRC Ministry of Agriculture. This represents the first time Farmer's Daily has formed a strategic partnership with an operating business like Yongye.
"It is an honor for us to have this opportunity to partner with Farmer's Daily to help address agriculture issues in China," stated Mr. Zishen Wu, Chairman and Chief Executive Officer. "We are committed to improving the living standards of China's farmers by helping them achieve increased crop yields through the use of our Shengminsu product. To that end, we have over 20,000 independently owned, Yongye branded stores in our network that serve the Chinese farmer through product service and training."
Mr. Yuanjie Tang, President of Farmer's Daily commented, "Both Farmer's Daily and Yongye are leaders in our respective fields serving the Chinese agriculture industry. This partnership represents a win-win relationship for both sides. Yongye is a renowned agricultural nutrient company and has made a significant contribution to the agriculture industry in China by helping our farmers improve their crop yields. We look forward to working with Yongye through this strategic partnership and many joint successes in the future."
About Yongye International
Yongye International is a Chinese agricultural nutrient company headquartered in Beijing, with its production facilities located in Hohhot, Inner Mongolia, China. Yongye markets two lines of organic nutrient products: a liquid nutrient product which is sprayed on plants and a powder nutrient product which is added to animal feed. Both products are sold under the brand name "Shengmingsu," which means "life essential" in Chinese. The Company's patented and patent pending formulas and proprietary extraction processes allow it to create products that increase crop yields and improve the health of livestock. The Company sells its products primarily to provincial or regional level distributors, who then channel those products to a carefully selected network of independently-owned Yongye branded stores in China. For more information, please visit the Company's website at http://www.yongyeintl.com.
Safe Harbor Statement
This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Ms. Kelly Wang
Finance Director – Capital Markets
Ms. Wendy Xuan – Business Associate
Phone: +86-10-8232-8866 x 8827
CCG Investor Relations
Mr. Athan Dounis
SOURCE Yongye International, Inc.
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