NEW YORK, March 28 /Xinhua-PRNewswire-FirstCall/ -- China Yingxia International, Inc. (OTC Bulletin Board: CYXI), (the "Company") a leading provider in the nutraceutical industry engaged in the development, manufacture and distribution of organic nutritional food products, supplements, and personal care products in China, today announced that it is in the final stages of the acquisition of six soybean milk production lines from King International Food Corporation Limited ("King"), a Sino-Australian joint venture.
The Company has spent over $4 million dollars to acquire production equipment, technical know-how, and marketing resources from King. The Company is now in the process of engaging a third party to provide an asset evaluation report to formally complete the purchase of the production lines. The Company expects the transaction to be completed before the end of the second quarter of 2008.
"We expect to begin production by the end of the second quarter after the acquisition formally closes," stated Ms. Yingxia Jiao, the Company's chairwoman. "This marks our first step toward becoming a major player in the soy milk business in China. We have other exciting projects in the pipeline for this year and I hope you can all join me for our fourth quarter and 2007 full year conference call next Monday."
About China Yingxia International, Inc.
China Yingxia International, Inc., through its 100%-owned subsidiary, Harbin Yingxia Industrial Group Co., Ltd. ('Yingxia'), is primarily engaged in the development, production and sales of health food products in China. Yingxia is located in the Province of Heilongjiang in mainland China. Yingxia's products include soybean-based foods and drinks, longgu golden millet enriched products, cactus-based herbal supplements, personal care products, Nestle products, and organic rice products.
Safe Harbor Statement
The statements contained herein that are not historical facts are
'forward-looking statements' within the meaning of Section 21E of the
Securities and Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements may be
identified by, among other things, the use of forward-looking terminology
such as 'believes,' 'expects,' 'may,' 'will,' 'should,' or 'anticipates' or
the negative thereof or other variations thereon or comparable terminology,
or by discussions of strategy that involve risks and uncertainties. In
particular, our statements regarding the potential growth of the markets
are examples of such forward-looking statements. The forward-looking
statements include risks and uncertainties, including but not limited to,
general economic conditions and regulatory developments, not within our
control. The factors discussed herein and expressed from time to time in
our filings with the Securities and Exchange Commission could cause actual
results and developments to be materially different from those expressed or
implied by such statements. The forward-looking statements are made only as
of the date of this filing, and we undertake no obligation to publicly
update such forward-looking statements to reflect subsequent events or
For more information, please contact:
|SOURCE China Yingxia International, Inc.|
Copyright©2008 PR Newswire.
All rights reserved