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Yongye is now a fully integrated manufacturer having acquired the land,buildings, equipment, and fertilizer license of its predecessor, InnerMongolia Yongye. The restructuring process began when the Yongye's cooperativejoint venture subsidiary, Yongye Nongfeng Biotechnology Co. ("YongyeNongfeng"), purchased the production equipment used in the existing 2,000tonnes per annum production facility from Inner Mongolia Yongye. In addition,all personnel, services, and control issues relating to the manufacturingoperations have also been transferred to Yongye Nongfeng. In June 2009, theMinistry of Agriculture issued Yongye Nongfeng the fertilizer license. Mostrecently, the title for the land and remaining buildings were transferred toYongye Nongfeng, effectively completing the restructuring process.
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"We look forward to capitalizing on our new tightly integrated businessmodel by better managing our research, manufacturing, and distributionactivities and efficiently executing our 2010-2012 strategic plan," commentedMr. Zishen Wu, Chairman and CEO of Yongye International.
About Yongye International, Inc.
Yongye International, Inc., headquartered in Beijing, is engaged in themanufacturing, development, distribution and sales of Shengmingsu brand plantand animal nutrient products. The Company's patented and patent pendingformulas and proprietary extraction processes allow it to create products thatincrease crop yields and improve the health of livestock. Its sole operatingsubsidiary, Inner Mongolia Yongye Nongfeng Biotechnology Co., Ltd., isheadquartered in Beijing with administrative and sales offices located inInner Mongolia, People's Republic of China. For more information, please visitthe Company's website at http://www.yongyeintl.com .
Safe Harbor Statement
This press release contains certain statements that may include"forward-looking statements." All statements other than statements ofhistorical fact included herein are "forward-looking statements." Theseforward-looking statements are often identified by the use of forward-lookingterminology such as "believes," "expects" or similar expressions, involvingknown and unknown risks and uncertainties. Although the Company believes thatthe expectations reflected in these forward-looking statements are reasonable,they do involve assumptions, risks and uncertainties, and these expectationsmay prove to be incorrect. You should not place undue reliance on theseforward-looking statements, which speak only as of the date of this pressrelease. The Company's actual results could differ materially from thoseanticipated in these forward-looking statements as a result of a variety offactors, including the risk factors discussed in the Company's periodicreports that are filed with the Securities and Exchange Commission andavailable on the SEC's website (http://www.sec.gov). All forward-lookingstatements attributable to the Company or persons acting on its behalf areexpressly qualified in their entirety by these risk factors. Other than asrequired under the securities laws, the Company does not assume a duty toupdate these forward-looking statements.For more information, please contact: Yongye International, Inc. Mr. Larry Gilmore-VP of Corporate Strategy Phone: +86-10-8232-8866 x8880 Email: [email protected] CCG Investor Relations, Inc. Mr. Crocker Coulson, President Phone: +1-646-213-1915 (New York) Email: [email protected] Web: http://www.ccgirasia.com
SOURCE Yongye International, Inc.
