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Author: MoneyfanInOK Three stars, 500 posts Old School Fool Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 16  
Subject: Press Release: HOGS receives Henan grant Date: 9/15/2008 9:53 AM
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Press Release

Zhongpin Receives Grant From Henan Government

CHANGGE CITY, Henan, China, Sept. 15 /Xinhua-PRNewswire-FirstCall/ -- Zhongpin Inc. (Nasdaq: HOGS) ("Zhongpin" or "the Company"), a leading meat and food processing company in the People's Republic of China ("PRC"), today announced that it has received a cash grant of RMB 1.65 million, or $241,086, from the government of Henan Province in recognition of the Company's contribution toward the advancement of meat processing technology.

Zhongpin is currently constructing a new production facility with annual capacity of 28,800 metric tons of prepared meat products at Zhongpin Industrial Park, located in Changge City, Henan Province. The new plant will utilize automated state-of-the-art technology and advanced equipment that uses an industrialized production process capable of producing high quality meat products. As a result of Zhongpin's contribution to technological advancement in the meat processing industry, the local government rewarded the Company with cash compensation of RMB 1.65 million, or $241,086.

"We are very pleased to receive this token of appreciation for our efforts in advancing the Chinese meat processing industry. Zhongpin strives to achieve production and quality standards on par with our international competitors. Our new facility will produce high-end prepared meat products processed in a temperature-controlled environment that ensures high levels of hygiene and quality," commented Mr. Xianfu Zhu, CEO of Zhongpin Inc. "We will utilize our nationwide advanced cold chain logistics system to distribute these products throughout China. Through the constant efforts of our R&D team and our marketing center in Shanghai, we plan to introduce new and innovative products targeted at middle and upper class consumers."



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