(PRWEB) August 11, 2004
American Dairy, Inc. (OTCBB:ADIY - News), one of the leading producers and distributors of milk powder and soy bean products in China, announces that construction of the new 10 acre milk processing plant in Kedong County, Heilongjang Province, China is near completion.
Leng You-Bin, ADIY's chairman and CEO states, "this $14 million plant will be the most modern and efficient milk processing plant in China."
The new $4 million construction features an 183,000 square foot workshop and an 8,600 square foot office building. $10 million of processing equipment imported from Denmark and Belgium is expected to arrive September 2004.
"Operations will commence January 2005 with production capabilities of 300 tons per day," Mr. Leng announced, " American Dairy's production will triple from the current 150 tons per day."
According to "China's Growing Thirst for Dairy," by Harry Baumes, "China's dairy sector is one that should benefit from strong income growth and its large market size (population: 1.3 billion). In recent years, China's per capita consumption of dairy products has grown dramatically (per capita milk consumption: 6.3 kilos (1998) to an estimated 30 kilos by 2015)(1), and the country's domestic producers have been unable to keep pace with the growing demand for dairy products."(2)
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties. In such instances, actual results could differ materially as a result of a variety of factors including the risks associated with the effect of changing economic conditions at home and abroad, variations in cash flow, reliance on collaborative retail partners, and on new product development, variations in new product and service development, risks associated with rapid technological change, and potential of introduced or undetected flaws and defects in products and services and other risk factors detailed in forms filed with the Securities and Exchange Commission from time to time.
# # #