REDWOOD CITY, CA–(Marketwired – Dec 30, 2013) – Yasheng Group (OTCQB: HERB), a high-growth adapted China-based agronomical amassed with U.S. abode in Redwood City, California, today appear that it has entered into a Joint Adventure with IBC International LLC (a Utah-based aliment manufacturer), to anatomy Angel Star Diet LLC — a Delaware-based Limited Liability Company. The purpose of the new adventure is to aftermath delicate baby blueprint and added diet articles for administration worldwide.
Yasheng Group and IBC accept formed carefully over the accomplished 34 months to advance and authorization baby and toddler formulas for access into acreage China to abode China’s accretion appeal for foreign-made milk powder. During this aeon Yasheng Group has acquired the all-important licenses from China’s CIQ to activate bartering addition importation, while IBC has anchored the all-important FDA and USDA approvals and bulb certifications to activate assembly and exportation of delicate Baby formula.
Yasheng Group and IBC will be co-owners of Angel Star Diet LLC, with anniversary affair captivation a 50% pale in the venture. Mei P. Wu (President of Yasheng Group) will serve as CEO, while Steven P. White (President of Intermountain Brands Corporation) will serve as President. Angel Star will be based in West Valley City, Utah, area the articles will be manufactured. Angel Star articles are fabricated from a alloy of USDA Grade “A” dairy products, affair the accomplished standards for artefact assurance and comestible value.
Under the new agreement, Yasheng Group will absorb all business rights for articles produced by the adventure and broadcast in China, Hong Kong and Taiwan. The parties will assignment calm to advance markets for Angel Star articles in added countries. Angel Star articles are currently in assorted stages of authoritative approval in Vietnam, the Philippines, Indonesia and Mexico. Angel Star expects to aggrandize its band of articles into added areas of diet supplementation over the aing 36 months — including articles for crumbling adults and abundant women, as able-bodied as supplements accurately advised for use by diabetics — an accretion botheration in China.
According to the China Dairy Industry Association, the baby blueprint milk crumb bazaar in China has had an boilerplate anniversary access of 22.9% back 2000 and is now the added better in the world. It is estimated that the baby blueprint bazaar will ability $12.0 billion in 2013 and that China will become the worlds’ better customer of baby milk crumb in the a future, with over 20 actor newborns every year. Recent changes in China’s one-child action are accepted to activation added advance in this segment.
Yasheng Group, founded over 30 years ago, is a US captivation aggregation that conducts primarily agronomical operations in the Northwest of China. Today it is one of China’s arch producers and marketers with six above artefact segments including acreage crops, vegetables, fruit, specialty crops, hops, hemp, seeds, beef and poultry. Yasheng is a supplier of high-quality agronomical articles to world-famous conglomerates such as McDonald’s, KFC, Tsingtao Beer, and Pepsi. The aggregation is led by a awful able administration aggregation and has absolute assets of about $2 billion, over 15,000 employees, and a history of able sales and balance growth. Please appointment our website www.yashenggroup.com and annals to accept approaching columnist releases directly.
Safe Harbor Statement
Except for the absolute advice independent herein, assertive affairs discussed in this columnist absolution are advanced statements which absorb risks and uncertainties. These advanced statements are based on expectations and assumptions as of the date of this columnist absolution and are accountable to abundant risks and uncertainties, which could account absolute after-effects to alter materially from those declared in the advanced statements. These risks and uncertainties are discussed in the company’s assorted filings with the Securities and Exchange Commission. The aggregation assumes no obligation to amend these advanced statements.
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