JUNAN COUNTY, Shandong, China, May 8 /Xinhua-PRNewswire-FirstCall/ -- American Lorain Corporation (OTC Bulletin Board: ALRC) ("American Lorain" or the "Company"), an international packaged foods company based in Shandong province, People's Republic of China ("PRC"), today announced that one of its four operating subsidiaries, Shandong Lorain, was awarded the National Leading Enterprise in Agricultural Industrialization ("NLEAI") award by nine Chinese ministries and commissions, including the Ministry of Agriculture, the State Planning Commission, and the State Economic & Trade Commission. Shandong Lorain is the second enterprise in Linyi City, Shandong province, to win the NLEAI award.
The NLEAI award is a prestigious award bestowed by the Chinese government, with a stringent selection process that begins with an enterprise receiving the nomination from its municipality and province. The list of candidates is then narrowed down by a panel of experts and the winners finally receive approval from the Joint Conference of National Agricultural Industrialization, an organization formed by a collection of nine ministries and commissions. Enterprises that are awarded the NLEAI enjoy numerous benefits, including privileges and support from the government when applying for government funding, credit lines and approval for new projects. In addition, NLEAI award recipients are eligible for a three-year corporate income tax exemption, effective immediately. Since 2000, only 800 enterprises in China have received the NLEAI award.
"We are so excited to receive such an honor, which demonstrates our advancements in agricultural industrialization. We plan on continuing to be an integral part of the local economy by providing jobs to local residents and paying fare wages. Shandong Lorain aligns the Company's interests with the interests of local farmers by entering into contracts that benefits all parties involved. This cooperation enables us to maintain an agricultural operation that spans 45,300 Chinese mu (i.e., 7,248 acres) and work alongside 13,000 farmers," said Mr. Si Chen, CEO of American Lorain.
About American Lorain Corp.
Shandong Lorain, an indirectly owned subsidiary of American Lorain Corp., was founded by Mr. Si Chen, CEO of American Lorain, in Shandong Province, People's Republic of China, 1995. When American Lorain started its operations in 1995, the Company sold chestnut products. However, in 2002, the Company entered the canned, frozen and bulk foods packaged market and in 2004, the Company entered the convenience foods packaged market. Although, the Company's chestnut products are mostly for sales to international markets, the convenience food, and frozen, canned and bulk food products are for sale in the domestic market, in China.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains certain statements that may include 'forward-looking statements' within the meaning of federal securities laws. All statements, other than statements of historical facts, included herein are "forward-looking statements." Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
American Lorain Corp
Mr. Gang Liu, Director of IR
Tel: +86-586-386-2276
Email: liugangqd@yahoo.com
Web: http://www.lorainfoods.com
CCG Elite Investor Relations
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgelite.com
SOURCE American Lorain Corporation
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