Voice Diary Inc. Subsidiary DAR Industrial Extends Authorized GAP Usage Term
GAP is a quality management standard for food production, which encompasses the planting of field crops, fruit and vegetables, breading of poultry, cattle and sheep, dairy cows, live pigs, and transportation of poultry and other animals.
12/02/07 On February 8th, Suining Yinfa DAR Industrial Co., Ltd. (DAR Industrial), a subsidiary of Voice Diary Inc. (OTC Bulletin Board: VCDY), one of the leading industrialized agricultural corporations in China, extended the effective term of their Good Agricultural Practice (GAP) usage right agreement from five years to twenty years. With a contract signed with the sole owner of Dahurian Angelica Root (DAR) GAP certificate in China, Suining Yinfa Resources Development Shareholding Co., Ltd. (Yinfa Shareholding) aims at long-term sustainable development and promotion of DAR industry as well as increasing the value of Sichuan DAR industrial using GAP as the core. The extension of the usage term will benefit DAR Industrial in many ways.
GAP is a quality management standard for food production, which encompasses the planting of field crops, fruit and vegetables, breading of poultry, cattle and sheep, dairy cows, live pigs, and transportation of poultry and other animals. The promulgation and implementation of China's GAP is a strong push towards sustainable development of China's agricultural production. It will also help increase safety standards and international competitiveness of China's agricultural industries. GAP certification has also become an important condition for import/export of agricultural products subsequent to China joining the WTO. GAP standards for the Chinese herbal industry has already become the quality management standard for Chinese herb manufacturers, and serves as an authoritative example for the rest of China's agricultural industries. Companies that receive GAP certification benefit from lower market entry barriers, and increase their reputation for higher quality and safety standards.
The extension of DAR Industrial's GAP usage rights from five years to twenty years would increase the likelihood of long-term sustainable profitability for the company. DAR Industrial has worked as a close partner with Yinfa Shareholding in their Sichuan DAR GAP program, continuously investing and re-investing in the program. In order to strengthen and ensure longevity of this mutually beneficial relationship, Yinfa Shareholding has authorized DAR Industrial to form a partnership with Sichuan DAR under their nationally recognized federal GAP certification. Pursuant to the terms of the new partnership DAR Industrial will be given access to the intellectual property rights of Sichuan DAR GAP, partake in various joint-venture operations, and share earnings with Sichuan DAR.
DAR Industrial's extension of their authorized GAP certification term will have many benefits for the organization. President Wang Jiguang believes, "We can increase our operating earnings from the authorization directly. What's more, we can also develop further scientific research and product research based on the technology and intellectual property of Sichuan DAR GAP which will lead to further gains and even more economic benefit."
