Zhongpin Upgrades Changge Pork Plant and Boosts Plant Capacity 37 Percent
27 Agosto 2009 - 6:00AM
PR Newswire (US)
CHANGGE and BEIJING, China, Aug. 27 /PRNewswire-Asia-FirstCall/ --
Zhongpin Inc. ("Zhongpin", Nasdaq: HOGS), a leading meat and food
processing company in the People's Republic of China, today
announced that it has upgraded its slaughtering and processing
facility in Changge, Henan province, that produces chilled and
frozen pork products. Process engineering and information
technology improvements have increased the plant's annual
production capacity by 37 percent, from 59,760 metric tons to
81,760 metric tons, at a cost of approximately US$ 6 million. This
higher capacity will help support Zhongpin's expansion into new
markets for its chilled and frozen pork products. With the upgrade
of the Changge plant, the company has ended the lease of a plant in
Hengshui, Hebei province. Going forward, this newly modernized
plant in Changge and the new plant in Tianjin that is currently
under construction will assist Zhongpin to better serve its
important north China market including the affluent cities of
Beijing, Tianjin, and Tangshan. The new Tianjin plant, which is
expected to begin pork production by mid- February 2010, also will
have state-of-the-art processes to produce chilled and frozen pork
products of the highest quality and safety. Mr. Xianfu Zhu,
Chairman and Chief Executive Officer of Zhongpin, said, "We are
very pleased with our new upgraded slaughtering and processing
facilities, which were completed on schedule. As a significant
phase in our capacity expansion plan, this partial rationalization
of our production network is another important milestone in our
development and helps us increase production and distribution
efficiency. The newly modernized Changge plant and the coming new
Tianjin plant will benefit from the same modern process engineering
and information technology advances we have been applying to all
our facilities. We have only one production standard - to make the
highest quality pork products in the world. "Zhongpin's market in
north China includes consumers, distributors, restaurants, and
organizations that require outstanding quality, safety, taste, and
nutritional value from its products, plus on-time delivery -- just
as all of our customers do. Zhongpin is well known for providing
the highest product quality and safety at competitive prices. "We
will serve the market surrounding the Bohai Bay from our Changge
and Tianjin plants as well as other neighboring plants by using our
advanced cold- chain distribution system. We are confident in our
market expansion in the near future" About Zhongpin Zhongpin Inc.
is a meat and food processing company that specializes in pork and
pork products, vegetables, and fruits in China. Its distribution
network in the China covers 20 provinces plus Beijing, Shanghai,
Tianjin, and Chongqing and includes more than 3,000 retail outlets.
Zhongpin's export markets include the European Union and Southeast
Asia. For more information about Zhongpin, please visit Zhongpin's
website at http://www.zpfood.com/ . Safe harbor statement Certain
statements in this news release are forward-looking statements made
under the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Zhongpin has based its
forward-looking statements largely on its current expectations and
projections about future events and trends that it believes may
affect its business strategy, results of operations, financial
condition, and financing needs. These projections involve risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements, which may include but
are not limited to such factors as downturns in the Chinese
economy, unanticipated changes in product demand, any effect from
the A(H1N1) virus on Zhongpin's market or sales, interruptions in
the supply of live pigs and or raw pork, poor performance of the
retail distribution network, delivery delays, freezer facility
malfunctions, Zhongpin's ability to build and commence new
production facilities according to intended timelines, the ability
to prepare Zhongpin for growth, the ability to predict Zhongpin's
future financial performance and financing ability, changes in
regulations, and other information detailed in Zhongpin's filings
with the United States Securities and Exchange Commission. You are
urged to consider these factors carefully in evaluating Zhongpin's
forward-looking statements and are cautioned not to place undue
reliance on those forward-looking statements, which are qualified
in their entirety by this cautionary statement. All information
provided in this news release is as of the date of this release.
Zhongpin does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required by law. For more
information, please contact: Zhongpin Inc. Mr. Sterling Song
(English and Chinese) Investor Relations Manager Tel:
+86-10-8286-1788 x101 in Beijing Email: Mr. Warren (Feng) Wang
(English and Chinese) Chief Financial Officer Tel: +86-10-8286-1788
x104 in Beijing Email: Christensen Mr. Yuanyuan Chen (English and
Chinese) Tel: +86-10-5971-2001 in Beijing Mobile: +86-139-2337-7882
in Beijing Email: Mr. Tom Myers (English) Mobile: +86-139-1141-3520
in Beijing Email: Ms. Kathy Li (English and Chinese) Tel:
+1-212-618-1978 in New York and Scottsdale Email: DATASOURCE:
Zhongpin Inc. CONTACT: Zhongpin Inc. - Mr. Sterling Song (English
and Chinese), Investor Relations Manager, +86-10-8286-1788 x101 in
Beijing, or ; Mr. Warren (Feng) Wang (English and Chinese), Chief
Financial Officer, +86-10-8286-1788 x104 in Beijing, or ;
Christensen - Mr. Yuanyuan Chen (English and Chinese),
+86-10-5971-2001 in Beijing, mobile +86-139-2337-7882 in Beijing,
or ; Mr. Tom Myers (English), mobile +86-139-1141-3520 in Beijing,
or ; Ms. Kathy Li (English and Chinese), +1-212-618-1978 in New
York and Scottsdale, or Web Site: http://www.zpfood.com/
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