United Nations Industrial Development Organization Selects Deyu Agricultural Corp. to Help Head New Grain Development Program in China
BEIJING, June 15, 2011 /PRNewswire-Asia-FirstCall/ — Deyu Agriculture Corp. (OTCBB: DEYU) (“Deyu” or “the Company”), a Beijing, China based vertically integrated producer and distributor of organic and non-organic corn and grain products, announced that the Company was recently chosen by the United Nations Industrial Development Organization (UNIDO) to help direct its new program entitled “Developing Value Chain Pattern for Coarse Grain Deep Processing in Shanxi Province.” The project aims to construct ways to alleviate poverty in rural Shanxi and improve the relationships between the area’s farmers and Chinese enterprises.
UNIDO’s director, Dr. Yuandong Hu, commented, “We believe that we can bring tremendous progress to Shanxi by working alongside Deyu. The Company is one of China’s top providers of grain based food products and is well established in Shanxi, but more importantly, Deyu focuses on the welfare of its farmers and employs sustainable farming practices. The Company’s research and development efforts provide Deyu’s farmers with high quality seeds and advanced cultivation technologies and training techniques to help the farmers attain optimal harvests and as a result, stable incomes. Furthermore, the Company is ecologically friendly, as Deyu does not use pesticides or fertilizers and only utilizes irrigation when absolutely necessary. We appreciate Deyu’s approach to its business and employees, and we believe that together, we can advance Shanxi’s grain industry.”
“We are delighted to be a part of this wonderful cause, to be chosen among so many notable Chinese agricultural companies truly is an honor,” said Jianming Hao, Deyu’s Chief Executive Officer and Chairman. “We are very grateful for the recognition of UNIDO and we will strive to uphold our selection by working closely with the project’s officials to improve the quality of life in rural Shanxi. Through our operations, we aim to integrate China’s rural and urban economies and provide our farmers with adequate income. Still, we aspire to do more. Our goal is to help UNIDO establish a completely resource efficient and environmentally friendly agriculture sector in Shanxi.”
Deyu’s selection comes on the heels of a successful first quarter which saw the Company more than double its storage capacity from 50,000 to 120,000 tons and experience growth in both its corn and grain product divisions. Deyu credits its success to its exclusive access to more than 109,000 acres of farmland in China – 19,000 of which the Company holds the use rights to – and also its established cooperation network consisting of more than 200 farmers agencies covering more than 150,000 farmers, many of who work in the Shanxi region.
About Deyu Agriculture
Deyu Agriculture Corp. is a vertically integrated producer, processor, marketer and distributor of organic and other agricultural products made from corn and grains operating in the Shanxi Province of the People’s Republic of China. The Company has access to over 109,000 acres of farmland in the Shanxi Province for breeding, cultivating, processing, warehousing, and distributing grain and corn products. Deyu’s deep-processed grain division was created in 2010 and its business is conducted through Detian Yu, Deyufarm and its subsidiaries, by producing and distributing instant grain vermicelli, instant millet beverage, and buckwheat tea to wholesalers and supermarkets underneath the brand name, “Deyufang”. Deyu has an extensive retail distribution network of more than 10,000 retail stores across China. The Company’s web site is located at www.deyuagri.com.
Safe Harbor Statements
This press release contains forward-looking statements made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Deyu Agriculture’s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in China, general economic conditions; geopolitical events and regulatory changes, availability of capital, changes in the agricultural industry, the Company’s ability to maintain its competitive position. Additional Information regarding risks can be found in the Company’s Quarterly Report on Form 10-Q and in the Company’s recently filed Prospectus filed pursuant to Rule 424(b)(3) with the SEC.
Mr. Kevin Fickle, President
NUWA Group LLC.
Mr. Charlie Lin, Chief Financial Officer
Deyu Agriculture Corp.
SOURCE Deyu Agriculture Corp.