China Agritech Introduces Innovative Fertilizer Line to Enhance Crop Drought Resistance
BEIJING, Feb. 17, 2011 /PRNewswire-Asia-FirstCall/ — China Agritech, Inc. (Nasdaq: CAGC) (‘China Agritech’, or the “Company’), a leading organic compound fertilizer manufacturer and distributor in China, today announced that the Company is introducing an innovative new line of organic liquid compound fertilizers that improves crop drought resistance.
Through combining plants’ endogenous extracts with the Company’s proprietary technology, China Agritech’s new line of organic liquid compound fertilizers facilitates the formulation of proline within crops, increases water content, and regulates cell osmotic potential, thereby enhancing plants’ drought resistance properties through the reduction of protein dehydration and enzyme deformation.
Mr. Yu Chang, Chairman and Chief Executive Officer of China Agritech, commented, “Ongoing natural disasters have been reducing grain production worldwide with a number of key farming provinces in China currently experiencing the worst drought in decades. These events contribute to an ongoing global food shortage which is driving prices higher for farming materials.”
“Our timely drought-resistant organic liquid fertilizer products provide a viable solution to declining arable land resources and diminished production months to enhance farm land yield. Through our established distribution partnerships and continuously growing regional distribution center network, we are able to sell our higher-margined innovative new line of organic liquid compound fertilizers to a larger audience of farmers. We are confident that our innovative products and rapidly growing channels will help reinforce our leading position in China’s organic fertilizer industry,” Chairman Chang added.
The new line of organic liquid compound fertilizers is scheduled to enter the market in March 2011. Meanwhile, research and development for a similar line of drought resistant organic granular compound fertilizer is under way and is expected to be introduced to the market in the future.
On a separate note, more photographs of the Company’s Anhui facility have been uploaded onto the corporate website at: http://www.chinaagritechinc.com/management.htm.
About China Agritech, Inc.
China Agritech, Inc. is engaged in the development, manufacture and distribution of liquid and granular organic compound fertilizers and related products in China. The Company has developed proprietary formulas that provide a continuous supply of high-quality agricultural products while maintaining soil fertility. The Company sells its products to farmers located in 28 provinces of China. For more information, please visit http://www.chinaagritechinc.com.
Safe Harbor Statement
This press release contains certain statements that may be deemed to be “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, and the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, including, without limitation, statements about its business or growth strategy, general industry conditions, future operating results of the Company, capital expenditures, expansion and growth opportunities, financing activities and other such matters, are forward-looking statements. Although the Company believes that its expectations stated in this press release are based on reasonable assumptions, actual results may differ from those projected in the forward-looking statements. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the SEC. Except as required by law, China Agritech is under no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
For more information, please contact: Mr. Gareth Tang Chief Financial Officer China Agritech, Inc. firstname.lastname@example.org Mr. Shiwei Yin/Kevin Theiss Investor Relations Grayling +1-646-284-9474 email@example.com firstname.lastname@example.org
SOURCE China Agritech, Inc.