WUHAN CITY, China, Dec. 10, 2012 /PRNewswire/ -- Tianli Agritech, Inc. (NASDAQ: OINK) ("Tianli" or the "Company"), a top leading producer of breeder hogs, market hogs and black hogs based in Wuhan City, China, today announced it completed construction of a new feed facility located in Enshi Autonomous Prefecture, Hubei, China. The new facility produces the feed with its special formula for Tianli's "10,000 families and 1,000,000 Black Hogs" program. This program was launched by Tianli and Enshi Autonomous Prefecture Government in 2011.
Through years of research, Tianli has developed its own proprietary feed formula for its own Black Hogs. The new facility has been designed with the annual production capacity of 30,000 tons, sufficient to supply 100,000 Black Hogs in Enshi Region. The new facility is currently in testing production phase while the Company awaits processing permits from the Bureau of Animal Husbandry and Veterinary of Hubei Province. Tianli expects to commence full production in the 2nd quarter of 2013 and contribute $15 million from this new facility, the assumption is based on the current hog feed market price.
Hanying Li, Chairwoman and CEO of Tianli Agritech stated, "We are very proud to announce the completion of this new milestone in our "10,000 families, 1,000,000 Black Hogs" program. The new facility will serve the execution of Enshi Black Hog Program and specially enforces the quality control of Black Hog Feed and Black Pork. Meat Quality is the foundation of our success in the long run.
About Tianli Agritech, Inc.
Tianli Agritech, Inc. is specialized in breeding, raising and distributing hogs in the People's Republic of China. The company's mission is to provide people the best quality pork meat, especially traditional Chinese Enshi Black Hogs. The company constantly conducts genetic, breeding and nutrition research to steadily improve its production capabilities.
Forward-Looking Statements This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the Company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
SOURCE Tianli Agritech, Inc.