Le Gaga Holdings Limited Announces Damage Caused by Super Typhoon "Usagi"
04 Octubre 2013 - 5:18AM
Le Gaga Holdings Limited (Nasdaq:GAGA) ("Le Gaga" or "the
Company"), a leading greenhouse vegetable producer in China, today
announced damage caused by super typhoon Usagi at its production
bases in Huidong, Guangdong Province.
Super typhoon "Usagi" hit the Company's production bases in
Pingshan and Duozhu, Huidong, Guangdong Province, on September 22,
2013 and caused substantial damage. These two production bases have
greenhouses of a total area of 2,000 mu (133 hectares), part of
which experienced various degrees of damage. Management took
prompt action and galvanized employees to undertake rescue efforts,
during the most serious natural disaster experienced in the history
of the Company.
Mr. Shing Yung Ma, the Company's chief executive officer, said,
"The Company's management and employees have maintained a high
morale in the face of this natural calamity. We have secured
the seedlings and production materials for this winter, which is
the peak season for our Company, and have begun implementing this
winter's production plan. We are working hard to undertake
repair efforts to minimize disruption to this winter's production
and mitigate the impact to our operational results."
The damage caused by this natural disaster will affect
production and the Company's business, results of operations and
financial condition. The Company is still evaluating the
extent of the damage and has not yet quantified the
impact. The Company will announce in due course the results of
any further assessment.
About Le Gaga Holdings Limited
(Nasdaq:GAGA)
Le Gaga is a leading greenhouse vegetable producer in
China. The Company sells and markets greenhouse vegetables
such as peppers, tomatoes, cucumbers and eggplants, as well as
green leafy vegetables to wholesalers, institutional customers and
supermarkets in China and Hong Kong. The Company has successfully
built a trusted brand among its customers.
The Company currently operates farms in the Chinese provinces of
Fujian, Guangdong and Hebei. Leveraging its large-scale
greenhouses, proprietary horticultural know-how and comprehensive
database, the Company specializes in producing and selling
high-quality, off-season vegetables during the winter months.
CONTACT: For further information, please contact:
PRChina
Jane Liu
Tel: (852) 2522 1838
Email: jliu@prchina.com.hk
Henry Chik
Tel: (852) 2522 1368
Email: hchik@prchina.com.hk
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