Changda International Holdings (OTCBB: CIHD), the Weifang based specialty chemicals manufacturer announces that the new annual distribution contract with China Post for the year 2010 includes an increase of 15% of fertilizer demand from the company's biggest distribution partner.
"This development shows the strong relationship with our distribution Partners China Post and the success of our distribution efforts. It is an important development that confirms the success of our strategy and choice of distribution partners and markets." Said QinRan Zhu, CEO of the Company.
The national mail service has long replaced the state owned countryside trade organizations with a mail order system provided by China Post. Through its collaboration with China Post Changda accesses its core Shandong Province market though nearly 80,000 access points. Changda and China Post have worked together for the last six years.
The Directors believe that this is development, along with other positive news, such as the recent figures released by the National Bureau of Statistics showing a 9.5% year-on-year increase in the production of chemical fertilizers in China in 2009 H1, emphasizes the overall strength of the sector.
About Changda International Holdings, Inc.
Changda International Holdings, Inc., through its wholly owned subsidiaries, Weifang Changda Chemical Industry Co., Ltd. and Weifang Changda Fertilizer Co., Ltd., produces compound fertilizers and snow melting agents in China. Changda is one of the leading compound fertilizer producers in Shandong Province, China, and is led by an experienced management team committed to diversifying the Company's product offering and delivering tailored services to its customers. For more information, please visit http://www.changdaint.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements including but not limited to the effectiveness, profitability and marketability of the company's or Changda International's products; the period of time in which any acquisition is expected to occur, the impact of any planned acquisition on the company, the company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; the company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Contacts:
Changda International Holdings, Inc.
Jan Pannemann, + 1 86
158-631-11662
Executive Vice President, Strategic Planning &
External Relations
or
http://www.changdaint.com
