ONE Bio Signs Supermarket Chains Expanding Its Organic Vegetable Business
ONE's organic products division has just signed new lucrative distribution agreements which will result in more rapid expansion into the retail environment in mainland China.
21 Jun 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 two distribution agreements with supermarket chains for distributing its organic vegetable and fruits products.
ONE's organic products division has just signed new lucrative distribution agreements which will result in more rapid expansion into the retail environment in mainland China. Recently, ONE signed distribution agreements with two supermarket chains in order to offer retail distribution of our products in more than 20 locations. The first two supermarket chains that ONE has partnered with are located in the Fuijan province and operate stores under the Xin Huadu and Jie long brand names. These are established retailers in their respective markets.
"This development within our OP division is just the start of ONE embarking on many promising retail opportunities to come. We are seeing consumers in the targeted areas adopt our products extremely well," stated Jinrong Tang, Sr. Vice President (China). "We are currently in the process of aggressively expanding distribution channels across China. In the meantime, we already identified 14 other large market style chains with roughly 150 more locations as potential partners. ONE is also working to sign new agreements with retailers that have a global footprint and rich domestic experience on the mainland. These retailers include but are not limited to Carrefour, Metro, Wal-Mart and Yong Hui," added Tang.
"We've added 3 regional sales offices to support our expansion and added 4 senior sales directors. By November ONE is expected to have a total of 110 local sales associates in the areas targeted for expansion in order to handle the anticipated growth in volume," stated ONE's CEO Marius Silvasan. "Currently, market demand in China for high quality organic produce is approximately 2.5 billion Kg. per annum. We anticipate grabbing 0.044% in market share in 2010, which will in turn contribute $3 million to sales revenue and bring $1.95 million dollars in gross profit. Our growth strategy is based on the consistent introduction of new, innovative and high margin/high profit products," added Silvasan.
