Feihe International Receives Authentication for China’s Credit Management System for the Food Industry
BEIJING and LOS ANGELES, Oct. 21, 2011 /PRNewswire Asia-FirstCall/ — Feihe International, Inc. (NYSE: ADY; “Feihe International” or the “Company”) (formerly known as American Dairy, Inc.), one of the leading producers and distributors of premium infant formula, milk powder and soybean, rice and walnut products in China, today announced it received authentication for China’s Credit Management System (CMS) for the food industry.
China’s Credit Management System for the food industry was promoted by the government to improve food safety and enhance corporations’ credibility and social responsibility. At the conference for the Discussion & Training of Establishing a National CMS for the Food Industry held by the Ministry of Industry and Information Technology of China, Feihe International and other 8 corporations received one of the first certificates of CMS approval issued by related governmental agencies.
Mr. Leng You Bin, the Company’s Chairman and Chief Executive Officer, stated, “We are extremely pleased and honored to announce that we are one of the first companies to receive the national CMS certificate and become one of the representatives for infant formula producers. It demonstrates our consistent efforts on producing premium quality infant formula and solidifies our leading position in China’s dairy industry. We began to set up our credit system very early on by better controlling on our milk source, using the most advanced producing equipment and applying stringent quality control procedures to ensure our product safety and quality. In addition, we are one of the few dairy companies that have not involved in any quality issues and have almost 50 years of a safe production record. We believe that we can improve our footprint as a leading infant formula company in the coming years and will continue to raise awareness of the premium quality of our products to consumers.”
About Feihe International, Inc.
Feihe International, Inc. (NYSE: ADY) (formerly known as American Dairy, Inc.) is one of the leading producers and distributors of premium infant formula, milk powder, and soybean, rice and walnut products in the People’s Republic of China. Feihe International conducts operations in China through its wholly owned subsidiary, Feihe Dairy, and other subsidiaries. Founded in 1962, Feihe Dairy is headquartered in Beijing, China, and has processing and distribution facilities in Kedong, Qiqihaer, Baiquan, Gannan, Longjiang, Shanxi, and Langfang. Using proprietary processing techniques, Feihe International makes products that are specially formulated for particular ages, dietary needs and health concerns. Feihe International has over 200 company-owned milk collection stations, seven production facilities with an aggregate milk powder production capacity of approximately 1,950 tons per day and an extensive distribution network that reaches over 80,000 retail outlets throughout China. For more information about Feihe International, Inc., please visit http://ady.feihe.com.
Cautionary Note Regarding Forward-Looking Statements
This document contains forward-looking information about the Company’s operating results and business prospects that involve substantial risks and uncertainties. Statements that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, but are not limited to, statements about the Company’s plans, objectives, expectations, strategies, intentions or other characterizations of future events or circumstances and are generally identified by the words “may,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “targets,” “could,” “would,” and similar expressions. Because these forward-looking statements are subject to a number of risks and uncertainties, the Company’s actual results could differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the heading “Risk Factors” in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2010, as amended, and in other reports filed with the United States Securities and Exchange Commission and available at www.sec.gov. The Company assumes no obligation to update any such forward-looking statements.
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SOURCE Feihe International, Inc.