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CTEC Ishares Iv Plc

3.7371
-0.0669 (-1.76%)
28 Nov 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Ishares Iv Plc EU:CTEC Euronext Exchange Traded Fund
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.0669 -1.76% 3.7371 3.7238 3.7623 3.7382 3.7263 3.7263 8,825 16:35:42

China Agritech, Inc. Completes Construction of Xinjiang Organic Granular Fertilizer Factory

15/09/2009 11:15am

PR Newswire (US)


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- Trial production underway for commercial operations - BEIJING, Sept. 15 /PRNewswire-Asia-FirstCall/ -- China Agritech, Inc. (OTC:CTEC) (BULLETIN BOARD: CTEC) ("China Agritech", or the "Company"), a leading national organic fertilizer manufacturer and distributor in China, today announced that it has completed the construction and equipment installation at its new organic granular fertilizer facility in Xinjiang. This facility adds another 50,000 metric tons of capacity for the production of the Company's organic granular fertilizers. The 50,000 metric ton capacity at the Xinjiang facility adds to the existing 150,000 metric tons of organic granular fertilizer capacity which recently began production in Anhui and Harbin. The Xinjiang facility will provide organic granular fertilizers primarily under the "Green Vitality" brand name to the vast agricultural areas in northwestern China. The Company also produces organic liquid fertilizers at Xinjiang with a capacity of up to 2,000 metric tons. China Agritech's total organic fertilizer capacity now consists of 200,000 metric tons of organic granular and 13,000 metric tons of organic liquid fertilizers with application to a large variety of crops. Mr. Yu Chang, Chairman and Chief Executive Officer of China Agritech, commented, "With the completion of the Xinjiang facility, we reached our strategic goal of attaining capacity for 200,000 metric tons of organic granular fertilizer. We will be able to offer farmers in the Northwestern China market a broader line of organic fertilizers to meet their needs from one source. With the new organic granular facilities in Anhui and Harbin in commercial operation, we can provide our high-quality organic fertilizers in Southern, Central, and Northeast China as well. Our new organic granular production facilities provide the capacity to support our growth over the next several years." About China Agritech, Inc. China Agritech, Inc. is engaged in the development, manufacture and distribution of liquid and granular organic compound fertilizers and related products in China. The Company has developed proprietary formulas that provide a continuous supply of high-quality agricultural products while maintaining soil fertility. The Company sells its products to farmers located in 28 provinces of China. For more information about the Company, please visit http://www.chinaagritechinc.com/ . Safe Harbor Statement This release may contain certain "forward-looking statements" relating to the business of China Agritech and its subsidiary companies, which can be identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "estimates" or similar expressions , including, but not limited to, statements regarding the continued demand for China Agritech's products, China Agritech's ability to sustain growth for the balance of the year and China Agritech's ability to generally meet all of its objectives. Such forward-looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, concentration in a single customer, raw material costs, market acceptance, future capital requirements, and competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the SEC. Except as required by law, China Agritech is under no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise. For more information, please contact: In China: Mr. Gareth Tang Chief Financial Officer China Agritech, Inc. Tel: +86-10-5962-1220 Email: In the U.S.: Mr. Kevin Theiss / Mr. Valentine Ding Investor Relations Grayling Tel: +1-646-284-9409 Email: DATASOURCE: China Agritech, Inc. CONTACT: In China, Mr. Gareth Tang, Chief Financial Officer of China Agritech, Inc., +86-10-5962-1220, ; or in the U.S., Kevin Theiss or Mr. Valentine Ding, Investor Relations, Grayling, +1-646-284-9409, or Web site: http://www.chinaagritechinc.com/

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