SEATTLE, March 21, 2012 /PRNewswire/ -- L & L Energy, Inc. (Nasdaq: LLEN) ("L&L"), a U.S. based company since 1995 with coal mining and distribution businesses in China, announced today that it signed a strategic sales agreement with AVIC International Coal Logistics Co., Ltd. ("AVIC Logistics") to expand its efficiency and coal sales throughout the Guizhou province.
AVIC Logistics is a known logistics and supply chain management company based in Guizhou and is currently investing in building a coal trading and logistic system throughout the province. AVIC Logistics is a subsidiary and acts as the coal arm of the AVIC International (Aviation Industry Corporation of China International Co.), a major China Central Government-led enterprise which manufactures and markets fixed wing aircrafts for commercial and military purposes. AVIC International has annual sales in excess of US$ 10 billion.
Under the strategic agreement, L&L is to utilize AVIC Logistics' platform, wholesale, and railroad network, to jointly market one million to two-million tons of coal in the calendar 2012. Using US$ 150 per ton coal price, the agreement if executed, could generate over US$ 150 million in revenues. L&L and AVIC Logistics will also work together to develop a strong supply chain management system aimed at supporting the development strategy of both parties, grow domestic and international markets with the objective of mutual benefit and development, and work together going forward throughout consolidation process in Guizhou.
"I am very pleased with the caliber of partners L&L is working with in China. L&L is upgrading its operations from dealing with individual proprietors to working with large institutions in the China's coal industry," Dickson Lee, Chairman and CEO of L&L commented. "After entering into joint MOUs' with two large institutions, including China Chengtong Metal Corporation (the former China Ministry of Material), we are able to further improve operations with help from AVIC Logistics' resources and network. We look forward to a fruitful relationship with AVIC Logistics to generate additional sales, improve our operational efficiency, and help meet China's robust coal demands."
Photos of the signing ceremony are available on L&L's website, www.llenergyinc.com.
The statements contained words that are not historical fact, including statements related to Company's future performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties. Actual results of the future events described in this document could differ materially due to numerous factors and other made by the company filing with the Securities and Exchange Commission. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements
L&L Energy, Inc.
SOURCE L & L Energy, Inc.