ONE Bio Signs Distribution Agreement with China's Largest Meat Producer
Shineway Group anticipates increasing purchasing volumes starting 2010 and committed to the annual purchase of a minimum of 10,000 Tons (valued at 8 million usd) of Bamboo Shoots by 2011.
3 Mar 2010 --- ONE Bio, Corp., an innovative company utilizing green process manufacturing to produce raw chemicals and herbal extracts, natural and health supplements and organic products, announced that its subsidiary, United Green Technology, Inc. ("UGTI") through its Chinese operating unit, signed a distribution agreement with Shineway Group (formerly "Henan Shuanghui Investment & Development Co. Ltd.") China's largest meat processing manufacturer for distribution of the Company's organic bamboo shoots.
Shineway Group anticipates increasing purchasing volumes starting 2010 and committed to the annual purchase of a minimum of 10,000 Tons (valued at 8 million usd) of Bamboo Shoots by 2011. As of Feb, purchase order placed by Shineway reached 100 tons and sales delivered from the pilot reached over 11 Tons.
"We are pleased to gain the business of Shineway, the largest meat processing company in China. Committed minimum purchase volumes starting in 2011 are expected to translate into sales of 8 million usd per annum. We appreciate the confidence Shineway Group has shown in our business," stated Jinrong Tang, Sr. Vice President (China). "We are currently aggressively expanding distribution in China and Japan and plan to break into the US market later this year," added Tang.
"I want to congratulate our Chinese management team for signing the distribution agreement with Shineway. Bamboo shoots are an important part of our organic products line up and a significant contributor to our profits. We are seeing a continued increase in the consumption of organic products and we intend to take advantage of it," stated ONE's CEO Marius Silvasan. "Our growth strategy is based on continued organic growth coupled with strategic acquisitions of high margin/high profit companies in the organic products and natural and health supplements segments," added Silvasan.
