ZHENJIANG, China, July 12, 2016 /PRNewswire/ -- Delta Technology Holdings Limited (NASDAQ: DELT) announced today it is moving forward with a new product to prevent and cure crop diseases. It has been estimated that more than 40 percent of the world's most important food crops are simply lost each year to disease. Also, billions of dollars are spent annually to alleviate this loss of food and much of that money is wasted on products that are simply not reducing this tremendous loss.
"The global population is growing rapidly and reducing this loss of food crop to diseases could be one of the most important accomplishments for a hungry world," said Xin Chao, Chairman and & CEO of Delta Technology holdings Ltd. "We anticipate mass producing a product by 2017 that is both safe for humans and the environment."
Delta Holdings recently filed its financial results (6K for a foreign entity; www.sec.gov) for the final six months of 2015. "The report shows that Delta Holdings is making an excellent decision in moving from aspects of its business that were badly harmed by the slowdown in China's economic growth and into a focus on production of chemicals that are needed worldwide. We are repositioning Delta into a biotechnology company with great potential in invention and development of products for the agricultural sector. We will keep our investors advised as we move forward on this new, exciting path," Mr. Chao said.
About Delta Technology Holdings Ltd.
Founded in 2007, Delta Technology is a leading China-based chemical company producing and distributing organic compounds. The end application markets of the Company's products include 380 clients in the automotive, pharmaceutical, agrochemical, dye & pigments, aerospace, ceramics, coating-printing, clean energy and food additive industries. Delta Technology has approximately 300 employees, many of whom are highly-qualified experts and technical personnel. The Company serves more than 380 clients in various industries.
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded or followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. Forward-looking statements in this release also include statements about business and economic trends. Investors should also consider the areas of risk described under the heading "Forward Looking Statements" and those factors captioned as "Risk Factors" in DELT's periodic reports under the Securities Exchange Act of 1934, as amended, or in connection with any forward-looking statements that may be made by DELT.
SOURCE Delta Technology Holdings Limited