American Dairy Signs Contract for New Milk Processing Plant.BEIJING -- American Dairy, Inc. (PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. :ADY), one of the leading producers and distributors of milk powder and soybean soybean, soya bean, or soy pea, leguminous plant (Glycine max, G. soja, or Soja max) of the family Leguminosae (pulse family), native to tropical and warm temperate regions of Asia, where it has been products in China, today announced that it has signed a contract with the Government of Gannan County, in the Heilongjiang Province of China, to build a new milk processing plant. Through this agreement, the Company will receive land, tax incentives and subsidies for building, as well as exclusive processing and distribution rights to local, subsidized liquid milk. Specifically, --American Dairy will receive 3 million square feet of land from the Government of Gannan County, payment-free for 40 years. The land is located in Heilongjiang, China's northernmost province. --The Government will subsidize the initial cost of 200,000 milk producing cows for local farmers, which increases the local production of liquid milk and allows more farmers to independently contract with American Dairy. The Company has exclusive processing and distribution rights to this milk. --By 2009, American Dairy expects the processing plant to be running at a full capacity of 1,000 tonnes of liquid milk per day. Currently, the Company processes 720 tonnes of liquid milk per day through three processing plants in Heilongjiang. Leng You-Bin, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American Dairy, stated, "Today's announcement reflects China's commitment to infant health and nutrition for the long term. It also speaks to American Dairy's capabilities, including our established distribution network and relentless focus on quality. We look forward to working with the Government of Gannan County to make widespread dairy consumption a reality for the people of China." Additionally, American Dairy announced today that the Company is centralizing cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. its packaging and distribution efforts and increasing capacity by building a new packaging and distribution center in Lang Fang, China. The Company believes that this will, over time, lower transportation fees, enhance product quality and increase the amount of American Dairy products dairy products dairy npl → produits laitier dairy products dairy npl → Milchprodukte pl, Molkereiprodukte pl available for sale in China. About American Dairy, Inc. American Dairy, Inc. conducts operations in The People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China ("China") through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Feihe Dairy. Founded in 1962, Feihe Dairy is one of the leading producers and distributors of milk powder and soybean products in China. Feihe Dairy is located in Kedong County Kedong ( Simplified Chinese: 克东; Traditional Chinese: 克東; Pinyin: Kèdōng , China, and has been in operation since 2001. American Dairy has a milk powder processing plant, BaiQuan Feihe Dairy in Kedong County, as well as a milk powder processing plant in the city of QiQiHaEr, Heilongjiang Province. Heilongjiang is the northernmost Chinese province and home to the nation's dairy industry. Certain of the statements made herein constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. In such instances, actual results could differ materially as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product and service development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products and services, and other risk factors detailed in forms filed with the Securities and Exchange Commission from time to time. |
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