yasheng group (HERB) Key Developments
Yasheng Group Joint Venture with Inner Mongolia Meng Yuan Agriculture Company
Jul 17 14
Yasheng Group announced that it has entered into a joint venture agreement with Inner Mongolia Meng Yuan Agriculture Co. Ltd. The purpose of the joint venture is to create a new industrial hemp plantation and develop hemp products for domestic and export markets. The project is located in the Bayinnaoer Region of Inner Mongolia on 110,000 acres of agricultural land. The first year expected planting area is approximately 5,000 acres, second year is 10,000 acres, and the third year is 30,000 acres. Yasheng Group is responsible sales and marketing and providing seeds, seedlings, planting techniques, and fertilizer. Meng Yuan is responsible for the daily management of the crops including pruning, watering, fertilization, and weeding.
Yasheng Group Joint Venture With Natural Capital Investment Ltd
Apr 16 14
YaSheng Group and Natural Capital Investment Ltd. (formerly known as Lemco Investments) announced that following the change of name of the latter's operation (now referred to as 'Natcap') and in accordance with the spirit of the memorandum of understanding and the joint venture term sheet it had entered into with Yasheng Group in 2013, they have now adjusted all the relevant documentation accordingly to reflect the change of name and the two companies are taking all the necessary steps to complete the relevant documentation to be able to start a joint operation to conduct the acquisition, development and commercialization of land-based assets representing high value both in terms of income and positive eco-social impacts in the developing world, Latin America in particular. The proposed joint venture that now enters into its final phase aims to set a unique landmark model of sustainable development led by a private initiative which has the prospect of being both profitable and socially responsible. It shall aim to secure access to land and exclusive commercial rights on assets such as timber, agriculture, forestry carbon, minerals, aquaculture and environmental services, amongst others. The announced joint venture, once completed, will for the first time facilitate the fostering of avoided deforestation and reforestation initiatives through the prospective trading of forestry carbon credits in the far east, China in particular, thereby procuring a sound solution for the reduction and/or offsetting of carbon emissions and at the same time securing an effective contribution to the protection of thousands of hectares of forests under threat and the survival of the communities and ecosystems who are entirely dependent on those forests.
YaSheng Group Announces Earnings Results for the Year 2013
Apr 11 14
YaSheng Group announced earnings results for the year 2013. For the year, the company reported revenues of $1,011 million against $993 million a year ago. Net income was $136 million or $0.88 per share against $126 million or $0.82 per share a year ago. The increase in Net Sales were attributable to higher yields and a better product mix.
Yasheng Group Completes First Industrial Hemp Shipment to the United States
Feb 26 14
YaSheng Group announced that it has successfully completed its first shipment of hulled hemp seeds to the United States. The delivery marks an important step in an agreement made in 2013 between Hemp Inc. and Yasheng to contract farm approximately 600 mu of hemp in China for import to the U.S. Yasheng is currently preparing to ship the remaining output of the crop in the form of fiber, chaff and hulled seeds. The two companies are currently negotiating a new contract for the 2014 planting season.
Yasheng Group Announce Joint Venture with IBC International LLC to Form Angel Star Nutrition LLC; Announces Executive Appointments to Angel Star Nutrition LLC
Dec 30 13
Yasheng Group announced that it has entered into a Joint Venture with IBC International LLC to form Angel Star Nutrition LLC -- a Delaware-based Limited Liability Company. The purpose of the new venture is to produce powdered infant formula and other nutrition products for distribution worldwide. Yasheng Group and IBC have worked closely over the past 34 months to develop and license infant and toddler formulas for importation into mainland China to address China's increasing demand for foreign-made milk powder.
During this period Yasheng Group has acquired the necessary licenses from China's CIQ to begin commercial shipment importation, while IBC has secured the necessary FDA and USDA approvals and plant certifications to begin production and exportation of powdered Infant formula. Yasheng Group and IBC will be co-owners of Angel Star Nutrition LLC, with each party holding a 50% stake in the venture. Under the new agreement, Yasheng Group will retain all marketing rights for products produced by the venture and distributed in China, Hong Kong and Taiwan. The parties will work together to develop markets for Angel Star products in other countries. Angel Star products are currently in various stages of governmental approval in Vietnam, the Philippines, Indonesia and Mexico. Angel Star expects to expand its line of products into other areas of nutrition supplementation over the next 36 months -- including products for aging adults and pregnant women, as well as supplements specifically designed for use by diabetics -- an increasing problem in China. Angel Star will be based in West Valley City, Utah, where the products will be manufactured. Angel Star products are made from a blend of USDA Grade "A" dairy products, meeting the high standards for product safety and nutritional value.
Mei P. Wu (President of Yasheng Group) will serve as CEO, while Steven P. White (President of Intermountain Brands Corporation) will serve as President.