Deyu Agriculture Corp. Explores Institutional Sales Segment and Reaches Supply
Agreement Valued at USD18.4 Million
BEIJING, Dec. 14, 2012
BEIJING, Dec. 14, 2012 /PRNewswire/ -- Deyu Agriculture Corp. (OTCBB: DEYU)
(the "Company"), a Shanxi Province, China based vertically integrated
producer, processor, marketer and distributor of organic and other
agricultural products made from corn and grains, announced today that it has
reached an agreement with Beijing Suning Appliance Co., Ltd. (Suning), which
is one of China's largest electrical and electronic appliance retailers with
annual sales of approximately US$15 billion in 2011, to supply Suning with
refined packaged grain goods valued at US$18.4 million.
"We are seeing more and more large retailers and service providers in China,
like Suning, integrating consumer trends into their marketing strategies,"
said Jianming Hao, Chief Executive Officer of Deyu. "One example is the usage
of our refined grain products of famous brands as promotional items for their
main products, as gift items for customers, and as benefit items for
employees. In view of this trend, we believe that our sales to Suning, which
is one of China's top electronic appliance retailers with over 1,700 chain
stores nationwide, indicate that our brand is becoming a highly recognizable
grain product brand in China."
"So far, we have been pleased to see Suning record US$12.3 million in sales
revenue since our shipments commenced in August 2012," added Mr. Hao. "We
understand the large market potential of institutional sales, and we are
committed to further expanding into this area by developing more strategic
institutional clients and further exploring the commercial sales segment. We
believe the commercial sales of such nature and scale can introduce more and
more customers to Deyu's products through those institutional clients' large
national sales networks."
About Deyu Agriculture
Deyu Agriculture Corp. is a vertically integrated agricultural value chain
from farmland to consumer market, which produces, processes, markets and
distributes organic and other agricultural products made from corn and grains
operating in Shanxi Province in China. The Company has access to over 109,000
acres of farmland in Shanxi Province for breeding, cultivating, processing,
warehousing and distributing grain and corn products. Deyu Agriculture Corp.
has an extensive wholesale network in over 15 provinces and a retail
distribution network of approximately 20,000 supermarkets and convenience
stores in 29 provinces across China. Deyu Agriculture Corp.'s facilities
include sophisticated production lines and modern warehouses with a total
production capacity of over 105,000 tons for grain products, storage capacity
of over 100,000 tons and annual turnover of 700,000 tons for corn products.
The Company's website is located at www.deyuagri.com.
Safe Harbor Statements
This press release contains forward-looking statements made under the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform Act of
1995. Forward looking statements are based upon the current plans, estimates
and projections of Deyu Agriculture Corp.'s management and are subject to
risks and uncertainties, which could cause actual results to differ from the
forward looking statements. Such statements include, among others, those
concerning market and industry segment growth and demand and acceptance of new
and existing products; any projections of sales, earnings, revenue, margins or
other financial items; any statements of the plans, strategies and objectives
of management for future operations; any statements regarding future economic
conditions or performance; uncertainties related to conducting business in
China, as well as all assumptions, expectations, predictions, intentions or
beliefs about future events. Therefore, you should not place undue reliance on
these forward-looking statements. The following factors, among others, could
cause actual results to differ from those set forth in the forward-looking
statements: business conditions in China, general economic conditions;
geopolitical events and regulatory changes, availability of capital, changes
in the agricultural industry, the Company's ability to maintain its
competitive position. Additional Information regarding risks can be found in
the Company's quarterly and annual reports filed with the U.S. Securities and
Exchange Commission at www.sec.gov.
Deyu Hotline: +1-646-499-5475
Mr. Greg Chen, President
Deyu Agriculture Corp.
Ms. Amy He, Chief Financial Officer
Deyu Agriculture Corp.
Tel: +86-10-5224-1802 X389
Mr. Kevin Ma
NUWA Group LLC
SOURCE Deyu Agriculture Corp.
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