BEIJING, Aug. 10 /PRNewswire-Asia-FirstCall/ -- Yongye International, Inc. (OTC Bulletin Board: YGII; "Yongye" or the "Company"), a leading developer and distributor of Shengmingsu branded plant and animal nutrient products located in the People's Republic of China, today announced that the Company expanded its research and development center in Hohhot, Inner Mongolia, PR China with the construction of six greenhouses and an open testing field.
The Company's research and development center now comprises six modern greenhouses, an open testing field, and research laboratories. The greenhouses and open testing field cover 6,000 square meters and 27,350 square meters respectively. Yongye will utilize the greenhouses and testing field to directly test and measure the impact of new products and formulations on a wide variety of crops.
"We are delighted to expand our research and development center as part of our strategic development plans for 2009," stated Mr. Zishen Wu, Chairman and Chief Executive Officer of Yongye International. "We have partnered with local universities and agricultural research institutes, including Inner Mongolia University, Chinese Academy of Sciences, Beijing University of Agriculture, and Inner Mongolia Academy of Agricultural Sciences, to assist us in our development initiatives. The greenhouses and open testing field will significantly increase our development of nutrient products for various crops and therefore will fuel product extensions and market expansion over the long- term. As a result, we believe our research and development expenses for 2009 signify solid investments in Yongye's future."
About Yongye International, Inc.
Yongye International, Inc., headquartered in Beijing, is engaged in the development, manufacturing, distribution and sales of fulvic acid based nutrients for plants and animals. The Company's patented and patent pending processes and proprietary formulas allow it to create products that increase crop yields and improve the health of livestock. Its sole operating subsidiary, Yongye Nongfeng Biotechnology Company, Ltd., is located in Inner Mongolia, People's Republic of China. The Company sells its products through distributors in ten provinces throughout China.
Safe Harbor Statement
This press release contains certain statements that may include "forward- looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. 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 the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk 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: Yongye International, Inc. Mr. Larry Gilmore-VP of Corporate Strategy Phone: +86-10-8232-8866 x8880 Email: firstname.lastname@example.org CCG Investor Relations, Inc. Mr. Crocker Coulson, President Phone: +1-646-213-1915 (New York) Email: email@example.com Web: http://www.ccgirasia.com
|SOURCE Yongye International, Inc.|
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