CHANGGE and BEIJING, China,
Sept. 30, 2011
/PRNewswire-Asia-FirstCall/ -- Zhongpin Inc. ("Zhongpin" or the
"Company", Nasdaq: HOGS), a leading meat and food processing
company in the People's Republic of
China, announced today that the trial production at its new
prepared pork products plant in Tianjin will start on September 30, 2011.
Zhongpin's new prepared pork plant is phase 2 of its industrial
park in Tianjin. Phase 1, for
chilled and frozen pork, began operating in January 2010 with an annual production capacity
of about 100,000 metric tons for chilled and frozen pork.
The new prepared pork products plant will have an annual
production capacity of about 36,000 metric tons. The total
investment in phase 2 was approximately $22
million.
The new prepared pork facility will produce sausages, hotdogs,
and other Chinese-style and western-style low-temperature meat
products. These products have been developed by thorough market
research and analysis and R&D by the Company. The marketing,
sales, and R&D team have completed outstanding work during the
facility's construction to ensure that the products produced will
satisfy a wide range of consumers' desires and needs. In parallel,
they also worked to shorten the duration of the trial production
period.
Mr. Xianfu Zhu, Chairman and
Chief Executive Officer of Zhongpin Inc., said, "Our new prepared
pork plant in our Tianjin cluster
joins our plant for chilled and frozen pork that has been producing
there since early 2010.
"We are very pleased with the good market acceptance and growth
we have earned so far in greater Tianjin and the North China area. In addition to our chilled
and frozen pork, we also sell our prepared pork products in
Tianjin that we create in other
locations, so we already have a good market presence and foundation
there for prepared pork products. For that reason, we believe with
confidence that our new facility will yield good market share
increases for our prepared pork products in greater Tianjin. We are quite confident that the new
facilities in Tianjin will satisfy
the traditional strong market demand during the Chinese New Year in early 2012."
Safe harbor statement
Certain statements in this news release may be forward-looking
statements made under the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Zhongpin has based its
forward-looking statements largely on its current expectations and
projections about future events and trends that it believes may
affect its business strategy, results of operations, financial
condition, and financing needs.
These projections involve risks and uncertainties that could
cause actual results to differ materially from those in the
forward-looking statements, which may include but are not limited
to such factors as downturns in the Chinese economy, unanticipated
changes in product demand, interruptions in the supply of live pigs
and or raw pork, the effects of weather on hog feed production,
poor performance of the retail distribution network, delivery
delays, freezer facility malfunctions, Zhongpin's ability to build
and commence new production facilities according to intended
timelines, the ability to prepare Zhongpin for growth, the ability
to predict Zhongpin's future financial performance and financing
ability, changes in regulations, and other information detailed in
Zhongpin's filings with the United States Securities and Exchange
Commission. These filings are available from www.sec.gov or from
Zhongpin's website at www.zpfood.com.
You are urged to consider these factors carefully in evaluating
Zhongpin's forward-looking statements and are cautioned not to
place undue reliance on those forward-looking statements, which are
qualified in their entirety by this cautionary statement. All
information provided in this news release is as of the date of this
release. Zhongpin does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events, or otherwise, except as required by law.
For more information, please contact:
Zhongpin Inc.
Mr. Sterling Song (English and
Chinese)
Director of Investor Relations
Telephone +86 10 8286 1788 extension 101 in Beijing
ir@zhongpin.com
Mr. Warren (Feng) Wang (English
and Chinese)
Chief Financial Officer
Telephone +86 10 8286 1788 extension 104 in Beijing
warren.wang@zhongpin.com
Christensen
Mr. Christian Arnell (English and
Chinese)
Telephone +86 10 5826 4939 in Beijing
carnell@christensenir.com
Mr. Tom Myers (English)
Mobile +86 139 1141 3520 in Beijing
tmyers@christensenir.com
www.zpfood.com
SOURCE Zhongpin Inc.