Source: cnn.com
Yasheng Group (OTCQB: HERB), a high-growth diversified China-based agricultural conglomerate with U.S. headquarters in Redwood City, California, today announced the success of its first industrial hemp crop grown with joint venture partner Meng Yuan Agriculture Company in Inner Mongolia.
This season Yasheng and Meng Yuan experimentally grew one thousand mu of industrial hemp, making full use of favorable local natural conditions and organized technical personnel to guide field management using modern large-scale development technology. Inner Mongolia's Bayinnaoer region has a long history of hemp cultivation. The local variety of hemp has tough skin and large seeds which are efficient for producing oil.
Next year Yasheng and Meng Yuan management will continue to work together to substantially expand the plantation, which is expected to grow to an area of 5,000 acres. The companies also plan to invest in the construction of a high-technology industrial base to process hemp medicine, food, health care products, fiber, and clothing in the period of 2015-2020.
Yasheng Group
Yasheng Group, founded over 30 years ago, is a US holding company that conducts primarily agricultural operations in the Northwest of China. Today it is one of China's leading producers and marketers with six major product segments including field crops, vegetables, fruit, specialty crops, seeds and poultry. Yasheng is a supplier of high-quality agricultural products to world-famous conglomerates such as McDonald's, KFC, Tsingtao Beer, and Pepsi. The company is led by a highly qualified management team and has total assets of over $2 billion, over 15,000 employees, and a history of strong sales and earnings growth. Please visit our website www.yashenggroup.com and register to receive future press releases directly.
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Except for the historical information contained herein, certain matters discussed in this press release are forward-looking statements which involve risks and uncertainties. These forward-looking statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are discussed in the company's various filings with the Securities and Exchange Commission. The company assumes no obligation to update these forward-looking statements.
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